Penny Stock Under Rs 5 Surges Over 7 Per Cent Today; Board Meeting To Be Held On January 16 To Announce Quarter Results
Today, over 1 crore shares changed hands at 12:00 Noon.
On Monday, shares of G G Engineering Ltd surged 7.5 per cent to Rs 1.44 per share from its previous closing of Rs 1.34 per share. The stock’s 52-week high is Rs 2.97 per share and its 52-week low is Rs 1.31 per share. Today, over 1 crore shares changed hands at 12:00 Noon.
G G Engineering Limited has announced that its Board of Directors will meet on Thursday, January 16, 2025, at the company's corporate office. The key agenda item for this meeting is to consider, approve, and take on record the unaudited financial results for the quarter ended December 31, 2024. The meeting may also include other items as permitted by the chair.
G G Engineering Limited (GGEL) is an Indian company that manufactures engineering products, infrastructure, and structural steel. The company was established in 2006 and is based in India. GGEL's products are used in many industries, including construction, infrastructure, mega projects, modern buildings, and high-rise residential and commercial projects.
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According to Quarterly Results, net sales increased by 44.3 per cent to Rs 105.71 crore and net profit increased by 1,414.5 per cent to Rs 11.42 crore in Q2FY25 compared to Q2FY24. In H1FY25, the net sales increased by 90.3 per cent to Rs 175.44 crore and net profit increased by 746 per cent to Rs 9.24 crore compared to H1FY24. In its annual results, net sales increased by 113 per cent to Rs 212.11 crore in FY24 compared to Rs 99.57 crore in FY23. The company reported a net profit of Rs 7.10 crore in FY24 compared to Rs 7.93 crore in FY23.
The company has a market cap of over Rs 200 crore and has delivered good profit growth of 19 per cent CAGR over the last 5 years. As of June 2024, promoters of the company own a 1.26 per cent stake while the public owns a 98.74 per cent stake. From Rs 1.31 (52-week low) to Rs 1.44 per share, the stock is up by 10 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.