Heavy Buying Witnessed In This Micro-Cap Stock Which Gained Over 250% In The Last Year

Shares of Jyoti Limited gained about 20% today. The stock has witnessed heavy buying activity from investors. Jyoti Limited has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price surged from Rs 16.90 on April 10, 2023, to Rs 74.97 on April 10, 2024, representing an increase of over 250% in a one-year holding period. An investment of Rs 1 lakh in this company’s shares one year ago would have grown to Rs 3.50 lakh today.

Recently, Jyoti Limited’s Switchgear Division has secured a new order from Gujarat Energy Transmission Corporation Limited (GETCO) for Rs. 756.32 lakh. This domestic contract involves supplying 11 KV VCB panels based on specific requirements, with variable pricing. This order win is expected to strengthen Jyoti’s position in the switchgear market and signifies their continued partnership with GETCO.

Financial Performance

In Q3FY24, the company posted a 21.11% increase in its consolidated revenue at Rs 41.76 crore compared to Rs 34.48 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 2.83 crore, while the PAT of the company stood at Rs 1.22 crore, from Rs 1.19 crore last year same quarter.

Business Overview 

Jyoti Limited is an India-based engineering company. The company provides products and services to clients in India and in the international market. The company’s plants are located at Vadodara. The company also undertakes turnkey contracts involving civil and electrification projects. The company has four divisions: engineered pumps and project division (EPPD), hydel systems, rotating electrical machines (REM), and switchgear and switchboards.

Stock Price Movement 

Today, the stock opened at Rs 67.05, with a high and low of Rs 75.85 and Rs 64.00, respectively. The stock is currently trading at Rs 75.85, which increased by 20.00%. The stock has a 52-week high of Rs 75.85 and a 52-week low of Rs 13.93.

The stock has shown impressive growth, and investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.