Rs 18 to Rs 365: This penny stock turned into a multibagger in one year

Stock of Jindal Poly Investment and Finance has rallied 1,912% in the last one year. The stock, which closed at Rs 18.17 on December 10, 2020 ended at a high of Rs 365 on the BSE today. An amount of Rs 1 lakh invested in the shares of Jindal Poly Investment and Finance a year ago would have turned into Rs 20.12 lakh today. In comparison, Sensex has risen 27.8 per cent during the period.

However, the stock ended 5% lower at Rs 365.75 today against the previous close of Rs 385 on BSE. The stock has lost 8.39% in the last 2 days. It opened with a loss of 4.16%  at Rs 369. It touched an intraday low of Rs 365.75 , down 5% on BSE. The stock hit an intraday high of Rs 397.95, rising 3.36% against the previous close.

Jindal Poly Investment and Finance share stands higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

Total 5,885 shares of the firm changed hands amounting to a turnover of Rs 22.15 lakh on BSE. Market cap of the firm rose to Rs 384.47 crore on BSE. The share has gained 1,635 per cent since the beginning of this year and risen 48.74% in a month.

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The stock hit a 52-week high of Rs 441.25 on November 29, 2021 and a 52-week low of Rs 17.40 on December 23, 2020.

The company plans to delist its shares from BSE and NSE and has called a meeting of the board on December 18 to consider the proposal. One should take the development into account before dealing in the shares of the firm.

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Three promoters held 74.63 per cent stake in the firm and public shareholders owned 25.37 per cent stake at the end of September quarter. 17,480 public shareholders owned 26.67 lakh shares of the firm. Of these, 17,091 shareholders held 16.62% stake with capital up to Rs 2 lakh.

Only nine shareholders with 4.72% stake held capital above Rs 2 lakh at the end of September quarter. Foreign portfolio investors (FPIs) did not hold any stake in Q2 of the current fiscal.

The stellar rise in the stock of Jindal Poly Investment reflects the financial performance of the firm. In the September quarter, the firm reported a 8030% rise in net profit. Profit after tax (PAT) zoomed to Rs 3,01.35 crore in Q2 against Rs 3.80 crore loss in the corresponding quarter of previous fiscal.

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Sales climbed to Rs 480.70 crore in Q2 against sale of 0.24 crore in the corresponding quarter of the previous fiscal. Operating profit rose 5,054% to Rs 288.67 crore for the quarter ended September against Rs 5.60 crore in the corresponding quarter of the previous fiscal.

On a quarter-on-quarter basis, the firm reported a 11.26% fall in net profit from Rs 339.58 crore in the June 2021 quarter.

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On an annual basis, net loss narrowed by 83% to Rs 15.99 crore for the fiscal ended March 2021 against Rs 93.89 crore loss for the fiscal ended 2020. Sales fell to Rs 0.88 crore crore in the last fiscal against Rs 0.96 crore for the fiscal ended March 2020.

Jindal Poly Investment stock has outperformed its peers in market returns during the last one year. While Bajaj Finserv share has gained 96.28%, share of HDFC AMC has lost 10.16% in one year. Share of another peer Muthoot Finance has gained 25.88% during the period. Cholamandalam Investment & Finance stock has clocked a rally of 58% in the last one year.

Jindal Poly Investment and Finance Company Ltd is engaged in providing services such as finance and investment services.

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