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The net profit of Fredun Pharmaceuticals soared 214.34 per cent to Rs 6.33 crore.

Board of Directors of the company at a meeting held on Friday, January 28, 2022, have, inter alia, considered and approved the sub-division/stock split of equity shares.

However, what happened on D-Street recently would make you believe in fairy tales all over again! This rags-to-riches story of a penny stock seems to come straight from a fairy tale world to real life. Can you believe a stock that was trading in single-digit some nine months back is now trading in triple digits?! Hard to believe but it is true! 

Given the fact that the broader market outperformed the headline index, there were as many as 29 stocks that jumped more than double in the month of December itself.  

The stock is trading above its important moving average of 20, 50 & 200-DMA. Moreover, these moving averages are in the desired sequence and all the moving averages are in a rising trajectory.

On Monday, the stock recorded double-digit gains along with a rise in volume. Volume for the day has so far crossed its previous day volume and it is greater than its 10-day as well as 30-day average volume, which indicates larger participation in the direction of the trend.

This reminds us of the famous words said by an American economist, who was also, the first American to win the Nobel Memorial Prize in economic sciences, Paul Samuelson. He rightly said, “Investing should be like watching paint dry or watching grass grow”. This can be difficult for some people to digest but having patience is still considered one of the most important factors in generating wealth.