Heavy buying penny stock under Rs 85 hit 10 per cent upper circuit & fresh 52-week high after first-ever stock split!
The stock is up by 48.73 per cent from its 52-week low of Rs 564.80 per share.
Today, one of the gainers on BSE, shares of HMA Agro Industries Ltd hit 10 per cent upper circuit to Rs 84 per share from its previous closing of Rs 76.40. The stock also made a fresh 52-week high is Rs 84. The shares of the company saw a spurt in volume by more than 20 times on BSE.
The stock's surge today can be attributed to a stock split, where each existing Rs 10 equity share was split into 10 new shares valued at Rs 1 each. This essentially increased the number of shares available without changing the company's overall value, making them more accessible to investors and potentially boosting demand.
Earlier, the company had ex-traded a final dividend of Rs 3 per share, each with a face value of Rs 10, on September 15, 2023.
HMA Agro Industries Limited is a food trade organisation for handling food and agro products, including frozen fresh buffalo meat, prepared/frozen natural products, vegetables, and cereals in India.
According to the standalone Quarterly Results, the net sales increased by 61 per cent to Rs 1,180 crore and the net profit increased by 15 per cent to Rs 38 crore in Q2FY24 compared to Q2FY23. According to the annual results, the net sales increased by 7 per cent to Rs 3,125.55 crore and the net profit increased by 24.46 per cent to Rs 137.32 crore in FY23 compared to FY22.
HMA Agro Industries Ltd has a market cap of Rs 4,200 crore. The shares of the company have an ROE of 28.4 per cent and an ROCE of 24 per cent. The stock is up by 48.73 per cent from its 52-week low of Rs 564.80 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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