Low PE penny stock under Rs 15; Board likely to announce bonus shares!

The stock has a PE of 10.5x whereas the sectoral PE is 35.2x.

Jonjua Overseas Ltd announced the meeting of the Board of Directors of the company is scheduled to be held on Tuesday, September 05, 2023, at 01:30 PM to consider the following agenda items:

1) To approve the date, time and venue of the annual general meeting.

2) To approve the notice of the annual general meeting.

3) To consider the bonus issue of shares.

4) To consider the increase in authorised share capital.

5) To determine directors to be reappointed.

6) Any other business with the permission of the Chairman.

Jonjua Overseas Ltd is an Indian company involved in various sectors, including service exports, corporate consultancy, agriculture, and the sale of printed books. The company offers services such as service exports, printing of books, agriculture, and domestic service sales. The company has a market cap of Rs 8 crore.

According to the financials, the company reported amazing numbers in its half-yearly results (H2FY23) and annual results (FY23). The net sales increased by 14.99 per cent to Rs 3.61 crore and the net profit increased by 11.36 per cent to Rs 1.18 crore in FY23 compared to FY22.

On Friday, shares of Jonjua Overseas Ltd plunged 0.92 per cent to Rs 11.90 per share from its previous closing of Rs 12.01. The stock has a 52-week high of Rs 17.19 and a 52-week low of Rs 8.04. The stock is an SME stock having a lot size of 3,460 shares and currently trading at 0.62 times its book value.

The stock has a PE of 10.5x whereas the sectoral PE is 35.2x. Investors should keep an eye on this micro-cap IT stock under the radar.