Penny stock under ₹10 jumps following relief rally in the Indian stock market
Both the benchmark indices, Sensex and Nifty 50, closed marginally higher in trade today. Indices eked out gains ahead of the Independence day holiday tomorrow and the much-awaited meeting between US President Donald Trump and his Russian counterpart, Vladimir Putin.
Sarveshwar Foods shares witnessed strong buying action towards the fag end of the stock market trading session today. The stock, after trading marginally lower through trade today, jumped in late afternoon trade and settled 1.45% higher at ₹ 8.37.
The 52-week high for the penny stock stood at ₹ 12.28, and the 52-week low of ₹ 5.63.
Sarveshwar Foods shares have risen 21% in the last three months and 17% in the past six months. However, on a year-to-date basis, the scrip is down 6% and for the last one year, it has seen a 7% decline.
The penny stock under ₹ 10 has emerged as a multibagger over the past two-year period, delivering a 120% return to its investors.
The company recently posted its Q1 results, recording a nearly 133% growth in consolidated profit to ₹ 7.02 crore, compared with ₹ 3.09 crore in the same period last year.
Meanwhile, the revenue from operations during the said quarter stood at ₹ 301.34 crore in Q1 FY26, up 29% YoY from ₹ 233.05 crore in the same period last year.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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