Stock below Rs 30: Investors should keep an eye on this low PE and high ROE stock

The stock has a PE multiple of 6.14 and an ROE of 21.07 per cent.  

Today, shares of Frontline Corporation Ltd surged 10 per cent in upper circuit and reached upper price band of Rs 27.55 per share from its previous closing of Rs 25.05. At 3:30 pm, the share of the company ended the day positive, up 3.79 per cent to Rs 26 per share. 

According to the financials, Frontline Corporation Ltd has a market cap of Rs 13 crore. The company reported excellent results in both quarterly and annual financial statements. In Q2FY23, net profit skyrocketed 131.03 per cent compared to Q2FY22. And in FY22, net sales and net profit rose by 22.44 per cent and 40.46 per cent respectively against FY21. The stock has a PE multiple of 6.14 and an ROE of 21.07 per cent.  

Incorporated in 1989, Frontline Corporation Ltd is in the business of transportation, wind energy, trading of automotive parts, renting of immovable properties and distribution of fuel energy. Today, shares of the company saw a spurt in volume by more than 2.41 times on BSE.  

The stock has a 52-week high of Rs 32.55 and a 52-week low of Rs 16.05. In the last 6 months, the stock gave 36.84 per cent returns and in the last 2 years, the stock gave multibagger returns of 119.41 per cent. Investors should keep a close eye on this low PE high ROE stock.