On Friday, a penny stock hit a 5 percent upper circuit after the company commissioned a new manufacturing unit.
With a market capitalization of Rs 21.19 crore, Fruition Venture Ltd. stock hit a 5 percent upper circuit from its previous close of Rs 50.45 per share to an intraday high of Rs 52.97 per share.
Fruition Venture Ltd. commissioned a new manufacturing unit equipped with state-of-the-art facilities and is now operational at Bawana Industrial Area in Delhi.
According to Fruition Venture Ltd., this advancement will lead to augmenting shareholder value and upholding transparency in their communication with stakeholders.
On a yearly basis, revenue from operations of the company increased by 398 percent from Rs 0.89 crore in FY22 to Rs 4.43 crore in FY24, and in the same period, net profits decreased by 90 percent from Rs 0.78 crore to Rs 0.08 crore.
Based on the FY2023 annual reports, the company’s future outlook emphasises improving its position in the market by focusing on technological advancement and producing more profitable products through aggressive efforts in productivity, efficiency, and cost reduction. However, based on their Q2 FY24 to Q3 FY24 data, there were no improvements in their sales or net profits.
The shareholder pattern of the company shows that 50.85 percent is held by the promoters and 49.15 percent is held by the public.
Fruition Venture Ltd. is an indian based company, founded in 1960, engaged in the business of trading computers and computer peripherals, securities, hares, and fabrics.
Written By Praveen R
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
