Stock below Rs 200: Keep an eye on this stock, which was locked in the upper circuit on December 22
On Thursday, the stock of this company was locked up at 20 per cent at Rs 142.90.
One of the Top Gainers on the BSE today, shares of National Oxygen Ltd surged 20 per cent from their previous closing of Rs 119.10 per share to the upper circuit price of Rs 142.90. Today, shares of the company saw a spurt in volume by more than 8.25 times on BSE.
The demand for oxygen has increased at an incredible rate since the start of the pandemic, and the company has been working hard to meet this rising demand. Covid cases have recently begun to resurface in India and oxygen is one of the most important components for COVID patients. As the number of covid cases rises, so will the demand for oxygen in hospitals will also increase and hence it witnessed some fresh buying today.
National Oxygen Limited (NOL) is an India-based manufacturer and supplier of Industrial gasses both in liquid and gaseous forms to industries and hospitals. According to annual financial statements, in FY21, the company reported a net loss of Rs 1.10 crore, it increased significantly to 793 per cent and posted a net profit of Rs 7.63 crore in FY22. Overall, the company's quarterly and annual financial statements showed favourable outcomes.
The company has an ROE of 79.6 per cent and a ROCE of 27.8 per cent with a market cap of Rs 58.1 crore. In just 6 months the shares of NOL gave 53.49 per cent returns. Investors must keep an eye on this stock