Low PE penny stock under Rs 50: This multibagger civil construction company enters into a JV partnership with various individuals!
The stock is up by 31 per cent in 1 year and gave multibagger returns of over 190 per cent in 3 years.
Arihant Foundations & Housing Ltd informed that along with two other Individuals has incorporated a joint venture entity namely VILAYA PROPERTIES LLP. The company acquired a 40 per cent stake for Rs 1,00,000 with a contribution of Rs 2,50,000.
Vilaya Properties LLP is incorporated under the Limited Liability Partnership| Act 2008 and registered with Registrar of Companies Act 2008 - Chennai Tamil Nadu on September 25, 2023, and it is yet to commence its business operations.
Incorporated in 1992, Arihant Foundations & Housing is engaged in real estate development including the construction of residential, commercial complexes and IT parks. The company has a market cap of Rs 42.56 crore. The stock is trading at 0.24 times its book value and has delivered good profit growth of 55.4 per cent CAGR over the last 5 years.
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According to the Quarterly Results, the net sales increased by 112 per cent to Rs 36.96 crore and net profit skyrocketed by 800 per cent to Rs 2.37 crore in Q1FY24 compared to Q1FY23. The company reported positive numbers in its annual results.
On Wednesday, shares of Arihant Foundations & Housing Ltd surged 1.73 per cent to Rs 49.49 per share from its previous closing of Rs 48.65. The stock’s 52-week high is Rs 91.59 and its 52-week low is Rs 31.20.
The shares of the company have a PE of 3.76x whereas the industry PE is 29.2x. The stock is up by 31 per cent in 1 year and gave multibagger returns of over 190 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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