Turnaround Stock: From Lower Circuit to Upper Circuit— Heavy Buying Ashish Kacholia-Backed Multibagger Stock Surprises Investors with Today's Move!

The company’s shares have delivered a multibagger return of over 660 per cent in the last 1 years.

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores.

At the start of the day's trading session, the stock opened at Rs 1864.05 per share, compared to the previous day's closing figure of Rs 1962.15 per share on the BSE. Finally, the shares closed at Rs 2044.40 per share. The stock has hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 2706.21 crore, and the stock has generated an impressive multibagger return of over 660 per cent in the past 1 year. Today, the company’s stock hit both the lower and upper circuits with heavy volumes. On the BSE, there was a notable volume spurt of 16.05 times.

As per the Quarterly Results, in Q4 FY24, Sky Gold Limited recorded a revenue of Rs 513 crore. The operating profit for Q4 FY24 stood at Rs 25 crore. The net profit for Q4 FY24 was Rs 14 crore representing a gain of 133 per cent YoY compared to a profit of Rs 6 crore. Looking at the annual performance, the company generated a revenue of Rs 1745 crore in FY24, compared to Rs 1154 crore in FY23. The operating profit for FY24 was Rs 77 crore with a net profit of Rs 40 crore.

According to the shareholding pattern of Sky Gold Limited, promoters own a 61.32 per cent stake, while public investors hold 38.58 per cent. Foreign Institutional Investors (FIIs) hold 0.08 per cent. Ace Investor Ashish Kacholia owns a 3.05 per cent stake in the company.

Investors must keep this Small-Cap stock on their radar.

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