Trending stock under Rs 100: This micro-cap stock sees massive buying at lower levels, jumps 9 per cent in the process!
The company has posted stellar results this quarter with revenue jumping 92 per cent YoY to Rs 95 crore. Investors can add it to their watchlist to track its further progress!
The Indian indices are undergoing a roller-coaster ride in the past few days, thanks to the globally-induced volatility. The Mid-Cap and Small-Cap stocks have corrected sharply during this period and are at good buying levels. One such stock is Archidply Industries, which has jumped nearly 9 per cent amid strong buying interest. Currently, the shares of Archidply are trading at Rs 84 levels on NSE. After correcting nearly 30 per cent, it has bounced from its 50-DMA level. Technically, the stock retraced after forming a 52-month cup pattern. The volume has been massive today, which is an indication of institutional buying activity.
On a YTD basis, the stock has surged nearly 100 per cent this year; thus, doubling shareholders’ wealth. The company has posted stellar results this quarter with revenue jumping 92 per cent YoY to Rs 95 crore. The EBITDA rose by a massive 175 per cent YoY in June 2022. The stock has seen huge buying today and a strong price volume breakout can take the stock even higher. Archidply Industries Limited is a Rs 165-crore micro-cap company engaged in manufacturing plywood, decorative plywood, and decorative laminates.
Investors can add it to their watchlist to track its further progress!