Multibagger Penny Stock Under Rs 60 Surges 18.7 per cent After Reporting 30.96 per cent Jumps In PAT & Bought 8,00,000 shares of SpiceJet Ltd
The stock gave multibagger returns of 146 per cent from its 52-week low of Rs 22.30 per share.
The benchmark indices ended trading higher on Monday, with the Sensex up 454 points or 0.59 per cent at 77,073 and the Nifty-50 up 142 points or 0.61 per cent at 23,345.
Along with the market in green today, shares of ASI Industries Ltd one of the Top Gainers on BSE surged and reached an intraday high of Rs 54.90 per share, up 18.7 per cent from its previous closing of Rs 46.28 per share. The stock’s 52-week high is Rs 65.89 per share and its 52-week low is Rs 22.30 per share. The share of the company saw a spurt in volume by more than 10.71 times on BSE.
The surge in stock price was driven by the company's impressive Q3FY25 and 9MFY25 financial performance. In Q3FY25, total revenue climbed 9.66 per cent QoQ to Rs 5,445.84 lakh compared to Rs 4976.49 lakh in Q3FY24, while net profit saw a 10.64 per cent QoQ increase, reaching Rs 1,217.51 lakh versus Rs 1,005.60 lakh in Q3FY24. Similarly, for the nine-month period ending FY25, Total Revenue demonstrated robust growth of 9.66 per cent YoY, rising to Rs 12,001.20 lakh from Rs 10,944.14 lakh in 9MFY24. This positive trajectory was further solidified by a significant 19.43 per cent YoY surge in net profit to Rs 1,655.94 lakh in 9MFY25 compared to Rs 1,264.44 lakh in 9MFY24.
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Additionally, ASI Industries Limited has acquired equity shares of SpiceJet Limited for investment purposes. SpiceJet Limited, a leading Indian low-cost airline with a 19-year track record, reported a standalone turnover of Rs 7,049.97 crore in FY24, a PAT of Rs (409.44) crore and a net worth of Rs 2,585.85 crore as of March 31, 2024. This acquisition was made through stock exchange purchases and is not a Related Party Transaction. ASI Industries Limited acquired 8,00,000 shares, representing 0.0624 per cent of SpiceJet's shareholding, at a total cost of Rs 3.92 crore. The Company aims to reap long-term/short-term investment benefits from this acquisition and does not intend to acquire control of SpiceJet's management.
Incorporated in 1945, ASI Industries Limited, a company with a market cap of Rs 121.78 crore, is involved in mining, wind power generation, and trading. It boasts the world's largest stone mining quarry, spanning 10 square kilometres in Ramganjmandi, Rajasthan. Primarily focused on mining and processing Kotah stone and other natural stones domestically and internationally, ASI Industries Limited (BSE: 502015 | ISIN: INE443A01030) was established in Mumbai, India.
The shareholding pattern of the firm is promoters holding 73.07 per cent stake and the public holding 26.93 per cent respectively as of December 2024. The stock gave multibagger returns of 146 per cent from its 52-week low of Rs 22.30 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.