Promoters of the company gains Rs 347,30,59,234 from this multibagger penny stock below Rs 60 in just 1 day with Rs 745.9 crore order book; scrip hit upper circuit!
The stock gave multibagger returns of 215 per cent in just 1 year and a whopping 6,000 per cent in 3 years.
Today, the stock market ended the day in green with BSE Sensex Index up 0.27 per cent and NSE Nifty-50 Index up 0.14 per cent. The BSE Mid-Cap Index and BSE Small-Cap Index also surged, up 0.84 per cent and 0.50 per cent respectively.
Along with the market in green, one of the Top Gainers on BSE, shares Lloyds Engineering Works Ltd was locked in 10 per cent (Rs 5.30 per share increase) upper circuit to Rs 58.55 per share from its previous closing of Rs 53.25. The total quantity of shares traded was over 1,00,00,000 shares including BSE & NSE.
Lloyds Engineering Works Ltd, established in 1974, designs, manufactures and commissions heavy equipment, machinery and systems for various sectors including hydrocarbon, oil & gas, steel, power, nuclear, and marine. They offer a diverse range of products like pressure vessels, heat exchangers, steel mill equipment, and marine loading arms, catering to a broad clientele and operating out of four workshops in Thane, Mumbai. They are continuously expanding their capacity and hold various industry approvals.
The promoters of the company own 65,52,94,195 shares or 57.36 per cent as of February 2024. In just 1 day, the promoters of the company gained Rs 347,30,59,234 (65,52,94,195 shares x Rs 5.30 per share).
According to Quarterly Results, the net sales increased by 246 per cent to Rs 201 crore and net profit increased by 108 per cent to Rs 27 crore in Q3FY24 compared to Q3FY23. In its nine-month results, the net sales increased by 214 per cent to Rs 436 crore and net profit increased by 90 per cent to Rs 59 crore in 9MFY24 compared to 9MFY23. The net sales increased by 526 per cent to Rs 313 crore and net profit increased by 517 per cent to Rs 37 crore in FY23 compared to FY22.
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Lloyds Engineering Works Limited previously announced a rights issue to raise up to Rs 9,990 lakh. The Board of Directors had approved the issuance of fully paid-up equity shares, offering them to existing shareholders who met eligibility criteria. Details regarding the rights issue, including instrument type, total number of shares, issue price, record date, subscription period, outstanding shares, rights entitlement ratio, and other terms, were to be included in a letter of offer filed with the relevant regulatory bodies. The ex-date for the rights issue was December 14, 2024.
The company has a market cap of Rs 6,693.10 crore as of February 29, 2024, and the order book stands at Rs 745.9 crore as of December 31, 2023. The stock gave multibagger returns of 215 per cent in just 1 year and a whopping 6,000 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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