Multibagger stock below Rs 25: This smallcap stock to enter into new business segments!
The net sales rose by 91.92 per cent in FY22 over FY21 and net profit increased significantly to 51.3 per cent in FY22 over FY21.
Gautam Gems Ltd recently announced that the firm has decided to expand its business by entering into a new segment of renewable energy consisting of windmills and solar energy along with its existing business of gems and jewellery. Keeping in mind that India has a massive demand for energy to fuel its rapidly growing economy. Today, the nation has a power surplus with a total installed electricity capacity of over four lakh MW.
After rising nearly 150 per cent over the period of 6 months, shares of Gautam Gems are undergoing a correction and have hit the lower circuit for the second straight day. Today, shares of Gautam Gems Ltd plunged 5 per cent to Rs 22.45 per share from its previous closing of Rs 23.60. The 52-week high of the stock is Rs 26 and the 52-week low of Rs 7.53.
Gautam Gems is an importer, exporter and manufacturer of rough and polished diamonds. It is a Surat-based company. The company sells diamonds of multiple categories, shapes, cuts, sizes and colours. It deals in both polished and rough diamonds.
Talking about financials, the company reported positive results in both quarterly and annual financial statements. The net sales rose by 91.92 per cent in FY22 over FY21 and net profit increased significantly to 51.3 per cent in FY22 over FY21. Gautam Gems Ltd has a market cap of Rs 118.79 crore and a CAGR of 75 per cent in just 1 year. Investors should keep this stock under their watch list.