Only Buyers: This penny stock has soared more than 100 per cent in just one month!
Recently, shares have received a significant buying interest, and as a result, they have hit back-to-back upper circuits!
The Indian benchmark indices witnessed a closing rally that allowed them to recoup all of their earlier losses to end the session flat. The BSE Sensex edged up by 0.01 per cent to 62,792 level at the close. The Nifty 50 index edged up by 0.02 per cent to a level of 18,599. With 1,990 shares rising on the BSE and 1,541 shares declining, the advance-decline ratio strongly remained in favour of advances.
Siddha Ventures Ltd, a non-banking financial company, drew investor interest as its shares continued a robust uptrend despite a lacklustre market. On an intraday basis on Tuesday, shares of the company soared and locked at a 10 per cent upper circuit, reaching a 52-week high of Rs 8.36 per share on the BSE.
Recently, shares have received a significant buying interest, and as a result, they have hit back-to-back upper circuits, skyrocketing 109 per cent in just one month and more than doubling investors' wealth!
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With average returns on equity and capital employed, the stock has a lower PE than its competitors and the industry average. The company had a market value of Rs 8.36 crore at the time of writing, with the promoter possessing a very small 5.76 per cent ownership, which may be cause for concern. The business operates in India and specializes in share trading, broking and investing activities.
Keep a close eye on this stock for the upcoming sessions!