Multibagger in just 1 year: Debt-free penny stock under Rs 60 rockets 19.33 per cent & hit fresh 52-week high with 13 times spurt in volume on BSE
The stock is up by 155 per cent in just 1 year and a whopping 600 per cent in 5 years.
On Friday, the stock market ended the day in green with BSE Sensex Index and NSE Nifty-50 Index up over 1 per cent each. About 2,330 shares have advanced, 1,579 shares have declined and 97 shares were unchanged on BSE.
Along with the market in green, one of the Top Gainers on the BSE, shares of 3P Land Holdings Ltd surged 19.33 per cent to an intraday high of Rs 55.99 per share from its previous closing of Rs 46.92 per share. In addition, the stock reached a fresh 52-week high of Rs 55.99 per share while its 52-week low of Rs 19.51 per share. At the closing bell, shares of the company were trading at Rs 51.05 per share, up 8.80 per cent with a spurt in volume by more than 13 times on BSE.
3P Land Holdings Ltd was incorporated in 1965 and has a market cap of Rs 92 crore. 3P Land Holdings Ltd is an India-based company engaged in the business of lending, investment activity, and real estate leasing. Its segments are leasing, investment and services. The revenues of the company arise from the lease of real estate, arising from operating leases on investment properties. Geographically, the majority of the company's revenue is derived from India.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
According to Quarterly Results (Q1FY25) and annual results (FY24), the company presented positive numbers. The net sales increased by 90 per cent to Rs 0.89 crore and net profit increased by 46 per cent to Rs 0.38 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 41 per cent to Rs 3.56 crore and net profit increased by 18 per cent to Rs 1.81 crore in FY24 compared to FY23.
As of June 2024, the promoters own 73.30 per cent of the company and the public owns the remaining 26.70 per cent. The stock is up by 155 per cent in just 1 year and a whopping 600 per cent in 5 years. Investors should keep an eye on this multibagger penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Multibagger solar EPC stock rockets with heavy volume - Could it be the next Waaree Renewables Technologies? Order book at Rs 3,100 crore & Promoters increase stake!