Penny stock that provides contracting services hits 5 percent upper circuit in the day’s trade after it declared it quarter ended September (Q2FY24) results with 945 percent YoY jump in Revenue and jump in Net Profit by 368 percent.
In the day’s trade the shares of NMS Resources Global Limited hit 5 percent upper circuit at Rs. 59.09 and its market capitalization is Rs. 18 Crores.
NMS Global services has reported a 945 percent YoY jump in Revenue from operations from Rs. 43.44 Lakhs in Q2FY23 to Rs. 453.99 Lakh’s in Q2FY24 and it grew 28 percent QoQ from Rs. 355.08 Lakh’s in Q1FY24 to Rs. 453.99 Lakh’s in Q2FY24.
Its Net profit grew 368 percent from Rs. 6.74 Lakh in Q2FY23 to Rs. 31.52 Lakh in Q2FY24 and it grew 462 percent QoQ from Rs. 5.60 Lakh in Q1FY24 to Rs. 31.52 Lakh in Q2FY24.
It has delivered multibagger returns of 215 percent in a year. A shareholders investment of Rs. 1 lakh in the company would be worth Rs. 3.15 lakh in a year.
The company’s revenue grew 139.42 percent from Rs. 2.74 Crore in FY22 to Rs. 6.56 Crore in FY23, accompanied by increasing profits of Rs. 0.02 Crore to Rs. 0.28 Crore.
It has reported a return on equity (ROE) of 22.56 percent and a return on capital employed (ROCE) of 4.91 percent, it is making good returns on its equity and decent returns on its capital employed.
NMS Resources Global Limited is engaged in providing contracting services like Civil Construction, Pre-Engineered Buildings, Skill Development, Financial Consultancy and Engineering Services. Company also provides exclusive supplies and a marketing team for telecom provider companies.
Note: Due to the illiquidity in penny stocks, the stock can hit its assigned circuit levels with just a minor increase in volume of trades. Even if the stock prices are within the usual buying range for the investors and offer enormous potential profits, penny stocks are quite dangerous for retail investors.
Written by: Bharath K.S
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.
