Microcap stock Pulsar International has been hitting its upper circuit limit everyday and is up a whopping 1,200% so far this year.
Pulsar International was incorporated in October 1990 with the main objectives of trading and offering consultancy services. At present, the company operates as an investment company and is currently engaged in dealing in mutual fund units, as per AceEquity.
As of December 31, 2022, retail investors, owning up to Rs 2 lakh worth shares, accounted for 62.97% stake in this company, while promoters owned 28.89% and institutional holding was nil.
On Wednesday, April 5, Pulsar International scrip hit a fresh high of Rs 52.18 level. In the last one year, the stock has rallied 2,420%.
Pulsar International stock has been hitting back to back upper circuit recently. The company has a market capitalisation of Rs 15.65 crore.
If one would have invested Rs 10,000 in Pulsar International shares six months ago, their investment would have grown to over Rs 2 lakh by now. As of April 5, 2023, the stock is trading at a PE of 53.25 with ROE of 7.24 and trailing twelve months EPS of 0.93.
Data shows the stock is quite liquid. On Monday, a total of 469 shares changed hands on this stock against a two week average of 668 stocks.
Pulsar international has doubled investors' money in the last one month as the scrip rallied around 151%. Once a penny stock, Pulsar International's share price has jumped 2,420% since May 5, 2022.
Pulsar International CFO Preeti Pranav Sanghavi and an independent director Rupal Patel resigned from the company board in February, citing preoccupation with other engagements.
For the December quarter, the company reported revenues of Rs 16 lakh compared with nil revenue in the year-ago period. Profit for the quarter stood at Rs 10.30 lakh against a loss of Rs 2.2 lakh in the year-ago quarter.
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