Stock under Rs 30: Watch this small-cap textile stock, which was in the upper circuit on February 17
Heaving buying was observed in just 5 trading sessions and the stock rallied over 70 per cent.
On Friday one of the Top Gainers on BSE, shares of Sri Ramakrishna Mills (Coimbatore) Ltd surged and reached an upper price band of Rs 26.45 per share, after being locked in the 20 per cent upper circuit.
The company's stock price has increased significantly today, as a result of recent strong trading activity and back-to-back spurt in volume. Heaving buying was observed in just 5 trading sessions and the stock rallied over 70 per cent. The shares of the company saw a spurt in volume by more than 6.99 times on BSE.
Sri Ramakrishna Mills (Coimbatore) Ltd is a Small-Cap company that has a market cap of Rs 18.83 crore. This is a textile company mainly focused on spinning operations and is engaged in textile spinning and real estate development. The company has also been exporting since 1986.
Recently, the sudden rise in share price was mainly due to the excellent number reported by the company in its Quarterly Results. The net profit recorded was Rs 0.20 crore in Q3FY23 compared to a net loss of Rs 0.85 crore in Q3FY22. In FY22, net sales rose by 109.41 per cent and net profit rose by 248.49 per cent compared to FY21.
The stock had a 52-week high of Rs 43.90 and a 52-week low of Rs 15. Investors should keep an eye on this stock.