Share price of a micro-cap moved up by nearly 4.88 percent to Rs. 12.87 in the morning trading session on Friday, compared to its previous close of Rs. 12.27, after the company announced signing a Memorandum of Understanding (MoU) on February 1st.
With a market cap of Rs. 9.79 crore, shares of Jonjua Overseas Ltd. opened at Rs. 12.30 on February 2nd. The company has delivered positive returns of more than 36.7 percent in the last six months, compared to nearly 53.23 percent of positive returns in the last one year. So far in 2024, it has given around 14.88 percent of returns.
According to the recent filings on BSE, an MoU was made and executed between the Gian Jyoti Institute of Management and Technology and Jonjua Overseas Limited on 2nd February, Friday.
Gian Jyoti Institute of Management and Technology is a leading institution of academic learning and technology in Mohali, Punjab.
This MoU between the institute and the corporation aims to share knowledge and establish academic-industry collaboration for the benefit of young talent undergoing skill training in the company.
In terms of financials, the revenue from operations of Jonjua Overseas decreased by 54.8 percent on a YoY basis from Rs. 2.19 crore in the September 2022 quarter to Rs. 0.99 crore in the September 2023 quarter, accompanied by a 5.88 percent decrease in net profit to Rs. 0.64 crore in the September 2023 quarter from Rs. 0.68 crore in the September 2022 quarter.
The Promoters’ holdings decreased by 9.31 percent to 31.53 percent in the September 2023 quarter from 40.84 percent in the September 2022 quarter.
Jonjua Overseas Ltd. is engaged in the business of service exports, corporate consultancy, agriculture, and organic manure along with the sale of printed books, brochures, flyers, letterheads, pamphlets, marketing materials, etc.
Written by Shivani Singh
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