Sharanam infraproject and trading penny stock remains in discussion among investors. On Tuesday, the company’s shares rose by 3% to ₹ 0.87 levels. One of the major reasons behind this boom is the major bets of foreign investors.
Mauritius -based FII (Foreign Institutional Investor) Al Maha Investment Fund PCC on 25 February bought a stake in this company through a bulk deal. According to BSE’s bulk deal data, this fund bought about 90 lakh shares at a price of ₹ 0.86 per share.
This expressway is 260 km long and three states: Andhra Pradesh, Tamil Nadu and Chennai
Why did foreign investors increase interest?
On Tuesday, the company said in a statement that this investment through a bulk deal shows the growing trust of institutional investors. Sharanam supplies construction materials for infrastructic and trading real estate and infrastructure sector.
The stock has increased by 3.61% in the last 5 trading sessions. In the last 6 months this stock has given a return of 26.47%. The stock opened at ₹ 0.86 on Tuesday and closed at ₹ 0.86 with a gain of 1.18% on BSE. During this Intrade High ₹ 0.87 reached. Market Cap: ₹ 51.09 crore.
Tremendous growth in December quarter
In the December 2024 quarter, the company recorded a net profit increase of 518%.
In addition, the total revenue increased by quarter-by-rate (QOQ) 3,563%.
Impact of boom in stock market
The BSE Sensex on Tuesday, putting an end to the decline, recorded a gain of 147 points.
BSE Sensex: Closed at 74,602.12 points. It climbed 330.67 points during business. The share of 17 companies remained in profit, while 13 were declined.
What is the signal for investors?
The interest of foreign investors may continue to boom in this stock. Due to the price and rising revenue, this penny stock can attract investors. However, investment in Penny Stocks is always risky, so vigilance is necessary.
