On Thursday, shares of the company surged by more than 2 per cent and made an intraday high of Rs 15.16.

In FY22, the company reported a net profit of Rs 14 crore compared to a net loss of Rs 103 crore in FY21.

On the broader markets, BSE Mid-cap stocks and BSE small-cap stocks were outperforming. 

The stock gave multibagger returns of 276.35 per cent from its 52-week low of Rs 4.65. 

But that's not all! The company recently announced that, along with its joint venture (JV) partners, it has received a letter of award for the Rihand Micro Irrigation Project from the Department of Water Resources, Madhya Pradesh. 

This penny stock has become the talk of the town among dividend investors on D-Street, and for good reason. Despite its small market cap of just 3.35 crore, the stock has been making waves, having recently hit its upper circuit limit of 5 per cent at a level of Rs 11.

Today shares of the company saw a spurt in volume by more than 1.46 times on BSE.   

The trading of Binani Industries' stock resumed on February 23, 2023, with an opening level of Rs. 10.90. Since then, the stock has hit back-to-back upper circuits and settled at Rs. 13.90 on Wednesday.

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

Including the above order received, the company’s order book stands at Rs 16,809 crore.

The benchmark indices were trading lower on Monday, with the Sensex down 334.94 points or 0.55 per cent at 60,506.70 and the Nifty down 89.45 points or 0.50 per cent at 17,764.60. 

In Q2FY23, net sales and net profit rose by 23.27 per cent and 88.37 per cent respectively compared to Q2FY22.

The stock gave multibagger returns of 463.84 per cent in just 6 months whereas BSE Information Technology Index rose only 0.26 per cent.

The promoters own 51.18 per cent of the company’s stake whereas the rest 48.82 per cent is owned by the general public, as of September 2022.

The stock has made back-to-back upper circuits in the past few trading sessions and hence it witnessed some fresh buying.

The stock has a PE multiple of 8.98, while the sectoral PE multiple is 32.8, the ROE is 44.60 per cent and the ROCE is 45.74 per cent.

In just 6 months, the shares of the company gave multibagger returns of 164.14 per cent.

The company’s 52-week high is Rs 35.90 per share whereas its 52-week low is Rs 12.15 per share. Investors should keep an eye on this stock.

The stock has gained by 138.05 per cent in just one month, while the BSE Sensex has only risen by 0.91 per cent.

In the September quarter, the bank quality profile improved with gross non-performing assets (NPA) standing at 12.9 per cent, compared to 15 per cent in September 2021. 

As a result, the stock is locked on the upper circuit limit of the day. Interestingly, this up-move in the stock price is seen on the back of robust volume as the total traded volume for the day is the highest single-day volume since August 18.

Today, the stock of this company was locked at 20 per cent at Rs 17.92. 

Amidst all the chaos, there is only one stock on the Indian bourses that is seen defying gravity. A significant point to note here is that the stock has skyrocketed over 78 per cent in the last one week.