Penny Stock Below Rs 3 Hits Upper Circuit, 52-Week High; Soars 135% In 1-Month

Small cap stock operating in the heavy electrical equipment industry GG Engineering Ltd hit 5.00% upper circuit and traded fresh 52-week high on December 11. The penny stock has been witnessing sharp rally in the last few days offering strong 135% return to investors in a span of just 1-month. In last 6-months, GG Engineering shares 201%. Check details below:

GG Engineering Ltd Hits Back-To-Back Upper Circuit, Trades 52-Week High: Last trading price of GG Engineering shares on BSE is Rs 2.77 per share with intraday gain of 5.00%. Its 52-week high price is Rs 2.77 per share and 52-week low price is Rs 0.74 per share, respectively. The company has a market capitalisation of Rs 243.62 crore. GG Engineering stock gained 26% in last 1-week, soared 45% in last 2-weeks, and gave return of 133% year-to-date. In last 1-year, GG Engineering shares surged 69%, declined 43% in last 2-years, and fell again by 55% in last 3-years. GG Engineering has a PE of 25.18 when compared with its peers Siemens (72.27) and Jyoti Structure (87.50).

GG Engineering have been hitting upper circuits from December 4, 2023.

Bulk Deal: The most recent Bulk deal for G G Engineering Ltd took place on November 24, 2023 on BSE. 5,066,755 shares were traded at an average price of Rs 1.89 and another 6,581, 372 shares were traded at an average price of Rs 1.89.

GG Engineering Financials: The company for Q2 FY24 declared its net profit at Rs 0.75 crore YoY, up 53% from Rs 0.49 crore declared in the corresponding quarter of last year. The company stated its revenue from operations stood at Rs 73.24 crore in Q2 FY24, UP 98.42% as against Rs 36.91 crore reported in the corresponding quarter of last year. Its net expenses declared at Rs 72.20 crore for the quarter under consideration, up 99.39% from Rs 36.21 crore in Q2 FY23. Meanwhile, the expenses incurred for Right Issue during the quarter and half year ended on September 30, 2023 approximately 95.20 lakh were capitalized and adjusted from other equity. "During the Quarter And Half year ended 30th September 2023 the company has raised fund through Right issue amounting to Rs 4988.20 Lakh through allotment of 4,98,20,215 Equity shares of face value of Rs.1 each Fully paid up shares," said the company.

GG engineering About: Established in 2006, G G Engineering Limited (BSE: 540614) has been at the forefront of meeting the rising demand for superior Infrastructural & Structural Steel, and Engineering products, according to its official website.

Disclaimer:

The stock highlights the rally in shares and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.