Record-high FIIs stake in penny stock: Huge buying by FIIs, revenue jumped by 3,540 per cent, company turned profitable!

In terms of quarterly performance, Julien Agro Infratech Ltd showcased impressive growth, reporting a revenue of Rs 5.46 crore in Q3FY24

The Nifty index exhibited a notable bullish momentum on the daily chart, characterized by a bullish candlestick formation with a discernible lower shadow. This pattern suggests a resurgence of buying interest, particularly at lower support levels.

Although commencing the session with a flat opening, Nifty gradually gathered momentum during the latter part of the trading hours, culminating in a robust uptick of 64.5 points, concluding at 21,782.

Following a sharp correction in the preceding session, Nifty rebounded impressively, closing on a positive note. One notable performer amidst the market activity was Julien Agro Infratech Ltd (formerly known as Silverpoint Infratech Ltd), which marked a notable uptick of 3.71 per cent, reaching Rs 28.78. The company specializes in land development, construction services, and allied services catering to civil and structural construction as well as infrastructure sector projects.

An intriguing development surrounding the stock pertains to its Foreign Institutional Investors (FIIs) holding, which surged to a record high of 1.98 per cent as per the shareholding pattern for the December 2023 quarter, up from the previous figure of 0.50 per cent. This surge resulted in a total of 3,91,500 shares being held by FIIs, with notable participation from entities such as Nexpact Ltd in the Category I of Foreign Portfolio Investors.

Additionally, the promoter holding in the stock remains substantial, accounting for 59.57 per cent, equivalent to 11,789,000 shares of the company.

In terms of quarterly performance, Julien Agro Infratech Ltd showcased impressive growth, reporting a revenue of Rs 5.46 crore in Q3FY24, marking a staggering YoY increase of 3,540 per cent. Furthermore, the company achieved profitability, recording a net profit of Rs 0.21 crore during the same period.

A noteworthy event for investors to consider is the most recent Bulk deal involving Julien Agro Infratech Ltd., occurring on January 29, 2024, on the BSE. During this transaction, 99,800 shares were traded at an average price of Rs 25.01, providing additional insights into market activity surrounding the stock.

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