Penny Stocks: The Multibaggers of the Future! π°π
Are you looking for the next big thing in the stock market? Look no further! Penny stocks have become the talk of the town, with many examples of single-digit stocks turning into multibaggers over time. It’s not every day that a company’s share price struggles to reach even 3 rupees but declares a whopping 20 rupees per share profit! In the capital goods category, microcap company Taparia Tools has set a new benchmark.
Taparia Tools Share Price: π
Taparia Tools’ share price rose by 5% today, reaching 3.06 rupees. This is the stock’s highest level in 52 weeks. The company announced a hefty profit of 20 rupees per share, leading to a frenzy in the stock market. Market experts predict that there could be further upside in the share price in the coming days. On Friday (February 16, 2024), the share was trading at 3.06 rupees, up by 4.79%.
Interim Dividend Announcement: πΈ
The company’s board of directors has decided to declare an interim dividend at a rate of 200%. The record date for the interim dividend has been set for February 24, 2024. Taparia Tools informed the stock exchange about this on Tuesday. The company reported a growth of 46.24% in net profit, amounting to 28.21 crore rupees, for the ending quarter of December 2023. In the same quarter of the previous year, the profit was 19.29 crore rupees. The company’s sales for the 2023-24 quarter increased by 7.89% to 208.58 crore rupees, compared to 193.32 crore rupees in the previous fiscal year’s quarter.
Support Levels and Future Potential: πͺπ
Taparia Tools is showing strong support at 2.10 rupees. A.R. Ramachandran from Tips2Trades believes that as the stock recently crossed 3.6 rupees, it could potentially reach up to 7 rupees in the near future.
So, keep an eye on penny stocks like Taparia Tools as they have the potential to make you a multibagger in the stock market! Stay tuned for more updates on the exciting world of penny stocks. Happy investing! πΌππ€
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
