Penny Stock with diversified businesses hit a 5 percent upper circuit in the day’s trade after it announced that it is going to sign a joint development agreement, to develop 9 acres of land.
The shares of TCM Limited hit a 5 percent upper circuit in the day’s trade at Rs. 44.11 and its market capitalization is Rs. 33 Crores.
As per the company’s filing on BSE, TCM Limited has announced that it is going to sign the joint development agreement, shareholders agreement, and memorandum of deposit of title deeds with Asset Homes TCM Townships Private Limited for the Joint Development of up to 9 Acres of the company’s land.
It has reported a jump in revenue from operations of Rs. 1.02 Crore in Q2FY23 to Rs. 5.04 Crore in Q2FY24, accompanied by a loss of Rs. 0.64 Crore to Rs. 1.65 Crore.
It has reported negative return ratios i.e. return on equity (ROE) of -13.02 percent and a return on capital employed (ROCE) of -8.09 percent. It has generated negative returns due to the increase in its material cost.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold 49.51 percent stake, the Foreign Institutional Investors (FII) hold 0.00 percent and the Domestic Institutional Investors hold 7.71 percent.
TCM Limited is engaged in the business of trading and manufacturing medical products, headlight beam assist systems, auto care parts, healthcare devices, etc.
Written by: Bharath K.S
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