Multibagger stock under Rs 5: Watch out for this penny stock, which was locked in the upper circuit on March 23
Today, shares of the company saw a spurt in volume by more than 8.59 times on BSE.
On Thursday, the benchmark Indian indices ended the day weak. BSE Sensex Index was down by 0.50 per cent at a level of 57,925.28 and NSE Nifty-50 Index was down 0.44 per cent at a level of 17,076.90.
Despite being a weak market, shares of Burnpur Cement surged 20 per cent upper circuit to Rs 4.76 per share from its previous closing of Rs 3.97 being one of the Top Gainers on BSE. The stock has a 52-week high of Rs 7.49 and a 52-week low of Rs 3.55.
One of the reasons for an increase in the stock price was due to the latest press release by the company wherein Burnpur Cement Ltd has entered into a second extension and amendment agreement dated March 21, 2023, with M/s UltraTech Cement Limited (‘UltraTech’) to extend and amend the terms and conditions of the offtake agreement and the first extension agreement entered earlier between the company and UltraTech.
Burnpur Cement Limited has a market cap of Rs 41 crore and manufactures building products. The company provides cement and aggregates. Burnpur Cement serves customers in India. Today, shares of the company saw a spurt in volume by more than 8.59 times on BSE.
The stock gave multibagger returns of 116.36 per cent in just 2 years and over 632 per cent in the last 3 years. Investors should keep this Small-Cap stock under the radar.