Can this stock below Rs 50 touch become next multibagger as it gains momentum after Trump’s presidential victory 

With this strong uptrend from the 52-week low, the stock has touched a three-month high on Wednesday. Keep an eye on this penny stock, as such strong moves, backed by robust volume, often suggest that significant developments may be underway.

The stock recorded its highest single-day volume since listing, with 66.08 lakh shares traded on the NSE—an eightfold increase compared to its 10-day average volume of 8.48 lakh shares.

The promoters hold the highest stake since June 2021. More importantly, the company’s debtor days have improved substantially from 126 days in March 2021 to 34 days in March 2024

For comparison, the average volume over the past 30 weeks stands at 28.54 lakh shares, marking a more than seven-fold increase. The stock also achieved a fresh 52-week high during this period.

With a book value of Rs 1.88 per share, stock currently trades at a mere 0.70 times its book value, further enhancing its allure. Additionally, the company boasts nearly zero debt, adding to its appeal

What transpired was nothing short of momentous: the company found itself at the receiving end of a work order, a behemoth in scale compared to its humble market valuation, amounting to a staggering Rs 8,00,00,000.

An intriguing development surrounding the stock pertains to its Foreign Institutional Investors (FIIs) holding, which surged to a record high of 1.98 per cent as per the shareholding pattern for the December 2023 quarter, up from the previous figure of 0.50 per cent.

The breakout of the consolidation range is supported by strong volume, exceeding three times the 30-day average volume of 2.1 crore shares per day, highlighting larger participation in the direction of the trend. The daily MACD has generated a bullish crossover, validating a positive bias

As if that weren't enough, in the quarter that ended in June 2023, the company reported an operating profit of Rs 0.03 crore, a remarkable turnaround from the loss of Rs 0.83 crore in the previous quarter, which ended in March 2023.

The stock has seen an unprecedented run-up in the last one-year of 312.7 per cent. As a result, the stock has been a multibagger stock in just one-year. The stock has outperformed the Nifty50 index by a wide margin.

The stock has jumped over 11 per cent on Wednesday and with this strong up-move it has recorded one of its best days in the near term. Interestingly, this up-move in the stock is seen on the back of huge volumes

“25 din mein paisa double”. While this line has inspired many memes and many may think it can be true in dreams only, on D-Street, this turned out to be a reality.

Many of the greatest companies started very small, with their stocks valued in single digits. In other words, they started as what the investment world calls “penny stocks or micro-cap.”

Investing in equities is the first chapter of many a rags-to-riches story. Some of the wealthiest individuals in the world owe their success to the stock market. It is only because of investing, individuals like Warren Buffett, Rakesh Jhunjhunwala and many more now rank as billionaires.

In recent trading, the company's stock price has risen significantly, with volume increasing in a row. 

Here is an interesting insight, the stock a saw good institutional activity in the month of November as many of the mutual funds were seen adding or fresh buying to their holding and here are the complete details as follow: 

Interestingly, the back-to-back upper circuit has been seen on back of robust volumes, as volume has been above the 50-days average volume for the last four trading sessions.  

It was seen roaring like a lion post witnessing a parabolic rise from Rs 7.75 to the level of Rs 72. The stock has hit multiple upper circuits on the way up. It zoomed over 800 per cent in just a span of 47 trading sessions.