Indian benchmark indices recovered from session’s initial losses and ended the session significantly higher, boosted by strong gains in information technology and auto sector stocks. Stocks in the financial services and banking sectors also contributed to the rally with their considerable gains. The top losing sectors were BSE Healthcare and BSE Consumer Durables.
The BSE Sensex gained 0.48% to 61,729 level at the close. The Nifty 50 index surged 0.41 per cent to a level of 18,203. While the advance-decline ratio remained in favour of declines and broader indices lagged the main indices, only buyers were seen in the case of Pulsar International Ltd, a small-cap financial services & trading company. On an intraday basis on Friday, shares of Pulsar International Ltd surged and locked at a 5% upper circuit, almost hitting a 52-week high of Rs 119.40 per share on the BSE.
Shares of the company have skyrocketed 5,395% in just one year as a result of back-to-back upper circuits, outperforming majority of multibagger stocks listed on the BSE. Additionally, just in the past six months, shares have delivered outstanding returns of more than 4,689%.
At the time of writing, the company had a market capitalization of Rs 35.78 crore, of which the promoter group held only around 29%. Considering the financials, it can be observed that the company’s revenue and net profit both improved moderately, but the stock’s price-to-earnings (PE) ratio is extremely high and can be viewed as being overvalued.
Incorporated in 1990, Pulsar International Ltd engages in the business of finance and investments and offers trading, imports and exports, finance, and consultancy services.
Keep a close eye on this stock for the upcoming sessions!