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Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announced rights issue worth Rs 49 crore!
Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announced rights issue worth Rs 49 crore!

Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announced rights issue worth Rs 49 crore!

The stock is up by 76.35 per cent from its 52-week low of Rs 2.41 per share.

Kiran Shroff Article rating: 3.9

The promoter of the company - Manishkumar Raichand Shah sold 14,98,10,518 shares and decreased the total promoter holding to 0.04 per cent compared to 44.55 per cent in March 2023.

Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announces rights issue!
Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announces rights issue!

Promoter of the company sold 14,98,10,518 shares of this penny stock under Rs 5; Board announces rights issue!

The stock has a PE of 10.8x, an ROE of 26 per cent and an ROCE of 28 per cent.

Kiran Shroff Article rating: 3.6

The promoter of the company - Manishkumar Raichand Shah sold 14,98,10,518 shares and decreased the total promoter holding to 0.04 per cent compared to 44.55 per cent in March 2023.

Penny stock below Rs 5 hits upper circuit: Gujarat-based company announces a strategic acquisition of a vessel and reports record profits!
Penny stock below Rs 5 hits upper circuit: Gujarat-based company announces a strategic acquisition of a vessel and reports record profits!

Penny stock below Rs 5 hits upper circuit: Gujarat-based company announces a strategic acquisition of a vessel and reports record profits!

The acquisition, valued at USD 6 Million (approximately Rs 51.00 crore), symbolizes a strategic investment to enhance operational capabilities.

Karan Dsij Article rating: 4.1

The stock drew special attention as its stock soared by almost 10 percent, locking in an upper circuit on Thursday.

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