Multibagger in just 1 month: Heavy buying in this multibagger penny stock under Rs 30 as it reports a 664 per cent jump in net profit!

The stock gave multibagger returns of 200 per cent in just 1 year whereas BSE Sensex Index is down by 2.25 per cent.

On Tuesday, one of the Top Gainers on BSE, shares of Crane Infrastructure Ltd jumped 10 per cent upper circuit to Rs 26.58 per share from its previous closing of Rs 24.17. The stock also traded at a new 52-week high of Rs 26.58. The shares of the company saw a spurt in volume by more than 2.63 times on BSE. The stock gave multibagger returns of 120 per cent in just 1 month.

 Crane Infrastructure Ltd is engaged in the business of real estate and property development. The company announced its Quarterly Results ended June 30, 2023, which was the main reason for the sudden rise in stock price hitting back to upper circuits and 52-week highs. Here are the details:

According to the quarterly results, the net sales increased by 865 per cent to Rs 2.51 crore, operating profit increased by 613 per cent to Rs 1.14 crore, profit before tax increased by 762 per cent to Rs 1.12 crore and net profit increased by 664 per cent to Rs 0.84 crore in Q1FY24 compared to Q1FY23. The EPS for Q1FY24 stood at Rs 1.16 compared to Rs 0.15 in Q1FY23, an increase of 673 per cent.

The company has a market cap of Rs 19.25 crore with a 3-year stock price CAGR of 107 per cent. Additionally, the company has very little debt, with only Rs 0.01 crore outstanding. This is just 0.08 per cent of its current market capitalization, which means that the company is essentially debt-free.

The shares of the company have a PE of 17x whereas the industry PE is 27x. The stock is currently trading at 0.68 times its book value of Rs 39.2. The stock gave multibagger returns of 200 per cent in just 1 year whereas BSE Sensex Index is down by 2.25 per cent. Investors should keep an eye on this micro-cap stock.

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