Share of Proseed India has delivered 11,118% returns to its shareholders in one year. The microcap stock, which stood at Rs 0.32 on August 20, 2021, rose to an all-time high of Rs 35.90 on BSE today. An amount of Rs 1 lakh invested in Proseed India stock 12 months ago would have turned into Rs 1.12 crore today.
In comparison, Sensex has risen 44.98% during the period.
The stock touched a record high of Rs 35.90, rising 4.97% against previous close of Rs 34.20 on BSE.
The share has gained 175.1% in the last 21 sessions. The stock opened with a gain of 4.97% today and was stuck in the upper circuit in afternoon session.
Proseed India share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages
Total 3,061 shares changed hands amounting to turnover of Rs 1.09 lakh on BSE. The thinly traded quantity of shares today signals buying by a small number of shareholders have pushed the stock higher by 5%.
Market cap of the firm rose to Rs 370.11 crore. In a month, the stock has gained 175.1%.
However, the stellar performance of the stock is not in line with the firm’s financials.
The company is a loss making one, a key factor investors should consider before trading in its shares.
Rs 5 to Rs 112: This penny stock turned into a multibagger in one year
In the last 10 quarters, the firm has clocked zero sales. It last logged sales of Rs 0.54 crore for the quarter ended December 2018.
For the quarter ended June 2021, the company reported widening of loss to Rs 0.30 crore against a loss of Rs 0.09 crore in the corresponding quarter of previous fiscal. On a quarter on quarter basis, the firm’s net profit fell by 102.32% from Rs 12.94 crore profit. ┬а
Multibagger alert: This stock gave 1,285% returns in one year
Investors should also note that the company is under stage first of the insolvency resolution process (IRP).
Public shareholders hold 100% stake with promoters having zero stake in the firm.
Small shareholders having individual share capital up to Rs 2 lakh hold maximum stake (93.92%) in the company. 19,918 shareholders held 29.07 lakh shares┬а of the firm at the end of June quarter this fiscal.
In the eight fiscals preceding the March 2021 fiscal, the company has logged losses.
For the fiscal ended March 2021, the firm┬а logged a profit of Rs 12.67 crore.
The company is engaged in providing web development, web maintenance and support services to its step down subsidiary Globe 7 Pte Limited. The company is focused on two sectors: online advertising and securities and derivatives trading.
This stock turned Rs 1 lakh into Rs 10 lakh in one year, did you miss the rally?
Rs 5 to Rs 194: This penny stock turned into a multibagger in one year
