Penny stock below Rs 15 hit upper circuit: Board announces bonus shares in 9:50 ratio!

The stock is up by 60 per cent from its 52-week low of Rs 8.04 per share with a PE of 11.6x whereas the industry PE is 36.2x.

Jonjua Overseas Ltd announced the meeting of the Board of Directors of the company approved shareholders entitled to fully paid-up bonus equity shares in the ratio of 9:50 (i.e., issue of 9 equity shares for every existing 50 equity shares held as of record date). The company fixed the record date for the bonus issue as Tuesday, October 10, 2023.

Jonjua Overseas Ltd is an Indian company involved in various sectors, including service exports, corporate consultancy, agriculture, and the sale of printed books. The company offers services such as service exports, printing of books, agriculture, and domestic service sales. The company has a market cap of Rs 8 crore.

According to the financials, the company reported amazing numbers in its half-yearly results (H2FY23) and annual results (FY23). The net sales increased by 14.99 per cent to Rs 3.61 crore and the net profit increased by 11.36 per cent to Rs 1.18 crore in FY23 compared to FY22.

On Monday shares of Jonjua Overseas Ltd hit a 5 per cent upper circuit to Rs 12.84 per share from its previous closing of Rs 12.23. The stock has a 52-week high of Rs 17.49 and a 52-week low of Rs 8.04. The stock is an SME stock having a lot size of 3,460 shares and currently trading at 0.62 times its book value.

The stock is up by 60 per cent from its 52-week low of Rs 8.04 per share with a PE of 11.6x whereas the industry PE is 36.2x. Investors should keep an eye on this micro-cap IT stock under the radar.

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

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