Multibagger stock below Rs 25: Investors should keep a close eye on this small-cap stock!
Today, shares of the company witnessed a spurt in volume by more than 2.28 times on BSE.
One of the Top Gainers on BSE on Friday, shares of Gautam Gems Ltd surged 5 per cent and reached the upper price band of Rs 22.20 per share from its previous closing of Rs 21.15. In recent trading sessions, the stock has hit back-to-back upper circuits. Today, shares of the company witnessed a spurt in volume by more than 2.28 times on BSE.
The company informed the BSE that it had partially paid the right issue amount of Rs 49 crore. The money will be used for renewable energy. The company previously announced that the board of directors is considering approving a proposal to enter the renewable energy sector. Also, the recent substantial acquisition of shares and takeover by "Yacoobali Aiyub Mohammed" and "Ganga Ram Rajput" has resulted in some new buying today.
Gautam Gems is an importer, exporter and manufacturer of rough and polished diamonds. It is a Surat-based company. The company sells diamonds of multiple categories, shapes, cuts, sizes and colours. It deals in both polished and rough diamonds.
Gautam Gems reported a net profit of Rs 0.25 crore in Q3FY23, up 108 per cent from the same quarter last year. In Q3FY23, the company's revenue from operations was Rs 18.20 crore. In contrast, the company's total expenses for the December quarter of 2022 were 17.92 crore.
Gautam Gems Ltd has a market cap of Rs 111.74 crore and a CAGR of 92 per cent in just 1 year. The stock has surged 98.57 per cent in the last one year while in the last 6 months, the stock has generated multibagger returns of 163.97 per cent. Investors should keep this stock under their watch list.