Heavy buying: Back-to-back upper circuit in this multibagger penny stock; gains over 1,000 per cent!

Shares of the company have gained more than 20 per cent in the last one month.

Shares of U. Y. Fincorp Limited were locked in the upper circuit on Thursday, gaining 10.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

U. Y. Fincorp Limited reported robust second-quarter results for FY24, with net sales growth of 15.93 per cent to Rs 4.51 crore and operating profit growth of 1604.12 per cent, due to other income grew exponentially. The net profit for the quarter stood at Rs 51.17 crore, up from Rs 3.05 crore in the previous year's same quarter.

Also read, Understanding Option Chain and Open Interest in Option Trading

U. Y. Fincorp Limited has also delivered multibagger returns to its shareholders in the last three years. During this period, the company’s share price jumped from Rs 2.65 on January 01, 2021, to Rs 30.59 on December 28, 2023, an increase of about 1,000 per cent in a three-year holding period.

U. Y. Fincorp Limited is a Kolkata-based RBI registered Non-Banking Financial Company. U. Y. Fincorp Limited primarily focuses on providing inter-corporate loans, personal loans, and investments in securities and trading in securities.

On Thursday, the stock opened at Rs 29.00, with a high and low of Rs 30.59 and Rs 28.90. The stock is currently trading at Rs 30.59, up by 10.00 per cent over its previous close of Rs 27.81. The stock has a 52-week high of Rs 32.00 and a 52-week low of Rs 11.06.

The stock has shown tremendous growth, and investors should keep a close eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.