Multibagger penny stock under Rs 60: This micro-cap company receives necessary permissions from Government Department for luxury resort project!

The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 15.40 per cent.

Spectrum Foods Ltd informed that the company has received all necessary permissions from the Government Department for the construction of 185 rooms for an upcoming luxury resort project. Further, the Company announced that it has appointed Mr Mudit Asthana as an architect for an upcoming luxury resort project in Pushkar, Rajasthan.

This new project is set to be a major attraction in the region, offering high-end amenities and world-class hospitality to the guests. Mr. Mudit Asthana is a renowned expert in luxury resort design and has been involved in designing some of the most acclaimed resorts in the country.

With years of experience and expertise in the industry, the company believes that his creative vision and attention to detail will help create a unique and memorable experience for guests with a focus on providing top-notch amenities and services. Spectrum Foods Limited is committed to ensuring that the resort is constructed with the highest quality materials and in adherence to strict safety standards. The company has already started construction of this project at Pushkar Site and it will be completed within a period of 18-24 months.

Spectrum Foods Ltd. services the food industry. The Company manufactures and sells spices and industrial salt. Spectrum Foods also participates in share trading activities. The company has a market cap of Rs 27.28 crore and reported amazing numbers in its Quarterly Results and annual results.

On Tuesday, shares of Spectrum Foods gained 1.79 per cent to Rs 56.26 per share with an intraday high of Rs 57.99 and an intraday low of Rs 53.75. The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 15.40 per cent. Investors should keep an eye on this micro-cap stock.

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