Multibagger penny stock under Rs 20: This micro-cap company bags path to prosperity import deal worth Rs 1.5 billion with Imperial Business Trading Limited!
The stock gave multibagger returns of 750 per cent in just 1 year and a whopping 2,400 per cent in 3 years.
Gujarat Toolroom Limited inform the exchange, its esteemed shareholders and the investing community of recent significant developments at the company pertaining to import transactions.
In the month of August 2023, Gujarat Toolroom Limited successfully completed import transactions with Imperial Business Trading Limited, an "A" Grade company based in Hong Kong. These import transactions included the procurement of conductive ink and other related materials valued at Rs 1.5 billion. These raw materials have been secured with the intention of preparing for anticipated market demand.
The strategic decision to import these materials is aligned with our commitment to strengthening our position in the market, optimizing production efficiency, and fulfilling the evolving needs of our valued customers. The conductive ink and related materials imported will be utilized for our general sales and distribution activities. We anticipate that this move will significantly contribute to our revenue growth in the upcoming quarters.
On this big announcement management added, “Gujarat Toolroom Limited remains dedicated to delivering value to its stakeholders, and this development underscores our commitment to sustainable growth and expansion.”
On Tuesday, shares of Gujarat Toolroom Ltd zoomed 2 per cent upper circuit to Rs 13.22 per share from its previous closing of Rs 12.97. The shares of the company saw a spurt in volume by more than 18.91 times on BSE.
Gujarat Toolroom is engaged in the business of moulds for medical disposables, pharmaceuticals, food & beverage packaging, caps & closures, writing instruments and articles of oral hygiene. The company has a market cap of Rs 73.33 crore and reported excellent numbers in its Quarterly Results and annual results.
The shares of the company have an ROE of 43 per cent and a ROCE of 43.7 per cent. The stock gave multibagger returns of 750 per cent in just 1 year and a whopping 2,400 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.