This ultra penny stock more than doubled in less than a month!

This scrip witnessed a strong market rally and made a fresh 52-week high on Tuesday

The shares of Sri Havisha Hospitality & Infrastructure, currently trading at Rs 1.86 per share, belong to the category of ultra penny stocks.  

However, the scrip witnessed a strong market rally and made a fresh 52-week high on Wednesday.  

Be it investing in popular stocks or ultra penny stocks, markets tend to reward those investors, who invest strategically and patiently. In the current bullish market environment, ultra penny stocks are not far behind.   

Though it is generally thought that consecutive gains in ultra penny stocks are quite difficult, it is not impossible. Surges in stocks are mainly triggered by the overall market sentiments, news, rumours, optimistic outlook, or large volume movements.  

According to the data available on BSE, the shares of Sri Havisha Hospitality & Infrastructure gained 113.7 per cent in less than a month. The stock jumped by around 244.4 per cent in the last one year.   

Sri Havisha Hospitality & Infrastructure Limited (SHHIL), formerly known as Shri Shakti LPG Limited (SSLPG) and Shri Matre Power & Infrastructure Limited (SMPIL) has been engaged in the business of LPG marketing since its incorporation. Since the company’s management opines that the hospitality industry is one area with a lot of potentials, particularly in the states of Andhra Pradesh and Telangana, the company had changed its name to Sri Havisha Hospitality & Infrastructure Ltd (SHHIL) to blend in the proposed expansions and diversifications of hospitality projects.  

On Wednesday, the stock of the company was seen trading at Rs 1.86 per share, up by 2.76 per cent or Rs 0.05 per share. The 52-week high is Rs 1.89 per share while its 52-week low is Rs 0.53 per share on BSE.