Gujarat-Based Multibagger Stock Below Rs 9 Hits Upper Circuit After Insider Trading Clarification!
Company’s financial growth, as evidenced in recent quarters, is a testament to our sound business practices, and we remain focused on improving that trajectory.
Indian benchmark indices have come off their high point of the day and are trading with minuscule gains, with Nifty hovering near the 23,050 level, down by over 150 points from the day’s high. India VIX has also surged past the 15 level, up by nearly 1 per cent.
Despite retreating from the day’s high and the Small-Cap index turning red, one penny stock has captured the attention of market participants as it has hit the upper circuit on BSE.
The stock in focus is Spright Agro Ltd. Spright Agro Limited (formerly known as Tine Agro Limited) offers a wide range of products and services, including contract farming, greenhouse technology, modern agro farming, aeroponics, hydroponics, organic farming, cold storage, B2B in agriculture, B2C retail chains, and exports. From farm to fork, the company maintains strict quality control measures to deliver fresh, nutritious, and flavorful products that enrich consumers' lives.
The share price of Spright Agro hit the upper circuit after a clarification was issued by Akshaykumar N. Patel, Managing Director, stating that certain individuals have been spreading fake rumors and misinformation about the company, alleging involvement in speculative and insider trading. These claims, unfortunately, have been echoed by some news agencies without seeking proper clarification or engaging in any primary questioning. Patel emphasized that this is a clear case of public defamation, which the company strongly condemns.
Furthermore, in the press release, he highlighted that the company’s financial growth, as evidenced in recent quarters, is a testament to our sound business practices, and we remain focused on improving that trajectory.
For the quarter ended December 2024, the company reported a record profit of Rs 7.09 crore and an operating profit of Rs 6.87 crore. This Gujarat-based stock has corrected by 36.96 per cent in the last month. However, it has delivered multibagger returns of 1,218.79 per cent in the last three years and is up by 17.88 per cent in the past year.
Disclaimer: The article is for informational purposes only and not investment advice.