Multibagger penny stock under Rs 2 hit upper circuit as the company has received delisting approval from the Metropolitan Stock Exchange of India Limited (MSEIL)
The stock is up by 47 per cent from its 52-week low of Rs 0.79 per share and gave multibagger returns of 365 per cent in 3 years.
On Tuesday, shares of Khoobsurat Limited hit a 5 per cent upper circuit to Rs 1.16 from its previous closing of Rs 1.11 with an intraday high of Rs 1.16 and an intraday low of Rs 1.12. The stock’s 52-week high is Rs 1.96 and its 52-week low is Rs 0.79.
Khoobsurat Limited has secured approval for delisting its equity shares from the Metropolitan Stock Exchange of India Limited (MSEIL). Consequently, beginning September 2, 2024, Khoobsurat Limited's shares will no longer be traded on MSEIL. The delisting involves 47,02,73,250 equity shares of Re 1 each. This follows the company's voluntary application to MSEIL for delisting its equity shares from the Capital Market Segment. The exchange has accepted the application and will suspend trading in Khoobsurat Limited's shares from September 2, 2024. Subsequently, the company will be completely delisted from the Capital Market Segment of MSEIL on September 9, 2024, as per exchange circular number MSE/LIST/15860/2024 dated August 26, 2024.
Earlier, Khoobsurat Ltd made substantial progress on its brewery project in Goa. Beginning with the registration of the factory plot in February 2024, the company has secured crucial approvals from government agencies, including environmental clearance and permission to drill a borewell. The company has also submitted the necessary application for the Establishment License, a vital step in obtaining the manufacturing license for beer. With these accomplishments, Khoobsurat Ltd. is well-positioned to increase its production capacity and positively impact its revenue streams in the future.
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About the Company
Khoobsurat Limited, established in 1982, specializes in finance and investments. The company's core business involves investing in both listed and unlisted shares and securities, in addition to providing other financial services. The company has a market cap of Rs 67 crore with a 3-year stock price CAGR of 70 per cent.
Quarterly Results: The company reported net sales of Rs 0.32 crore in Q1FY25. The operating profit increased by 482.9 per cent to Rs 0.44 crore and net profit increased by 269.6 per cent to Rs 0.21 crore in Q1FY25 compared to Q1FY24.
Annual Results: The company reported nil sales and net profit of Rs 0.14 crore in FY24 compared to net sales of Rs 0.73 crore and net profit of Rs 0.27 crore in FY23.
As of March 2024, the shareholding pattern of the company is 0.45 per cent and the rest of the stake is owned by public shareholders which is 99.55 per cent. The stock is up by 47 per cent from its 52-week low of Rs 0.79 per share and gave multibagger returns of 365 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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