Low PE & High ROE Multibagger Penny Stock Below Rs 10 to Keep Under Radar as Board is Likely to Announce Bonus Share
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 2.62 per share.
Darshan Orna Limited informed that a meeting of the Board of Directors of the company will be held on Friday, November 29,2024 to, inter-alia: -
- To consider and approve bonus issue of equity shares of the company
- Any other matter with the permission of chair
Darshan Orna Ltd, established in 2011, is a prominent player in the wholesale and retail sector of gold and silver jewellery. The company offers a diverse range of products, encompassing traditional, modern, and Indo-Western styles. Their jewellery is adorned with precious and semi-precious stones, including Kundan, gemstones, and American diamonds. With a strong focus on quality and design, Darshan Orna Ltd. caters to a wide customer base, providing a wide array of choices to suit various preferences and occasions.
The company has a market cap of Rs 28 crore and shares of the company have a PE of 10x and an ROCE of 17 per cent. In its Quarterly Results, the company reported net sales of Rs 2.47 crore and net profit of Rs 0.18 crore in Q2FY25 while in its annual results, the company reported net sales of Rs 20.87 crore and net profit of Rs 2.67 crore in FY24.
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On Friday, shares of Darshan Orna Limited plunged 6.61 per cent to Rs 5.23 per share from its previous closing of Rs 5.60 per share with an intraday high of Rs 6.20 and an intraday low of Rs 5.17. The shares of the company saw a spurt in volume by more than 1.23 times on BSE. The stock’s 52-week high is Rs 6.50 per share and its 52-week low is Rs 2.62 per share. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 2.62 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.