On Friday this penny stock jumps more than 5% after the company received an order worth Rs. 197 Cr. The stock has delivered 74% returns in one year. The stock of the company is currently trading higher than both its 200-day and 50-day moving averages. The strong and rising volume that is above average when compared to the previous day and week has helped to keep the stock price at a high level. 

IFL Enterprises Ltd

IFL Enterprises Ltd. is a penny stock, with a market capitalisation of Rs. 325 Cr. On Friday at 14:40 p.m., shares were trading 0.4% up at Rs. 14.37 on BSE.

According to the company filing, IFL Enterprises Ltd has secured an order of Rs. 197.79 Cr from Siddesh Global Limited a prominent client in the paper industry. For White Printing Printing Paper 58 GSM, White Art Paper 80 GSM, White Paper 120 GSM, White Paper A4 size Pre-cut Non-Branded 50 GSM and Plan White Paper Roll 75 GSM.

As per the company filing, the company’s revenue grew by 59% QoQ from Rs 1.47 Cr in Q4 FY23 to Rs. 2.35 Cr in Q1 FY24 and for the same period, net profit increased from 0.02 Cr to Rs. 0.35 Cr.

As of June 2023, Promoters hold 1.21% and the Public hold a 98.79% stake in the company.

IFL Enterprises Limited is an Indian retailer of textiles. The business sells fabrics and related goods. The business sells paper products including A/4, writing, coated, and copier paper. Additionally, it offers notebooks, duplex boards, and art and craft paper.

Disclaimer: Due to the illiquidity of penny stocks, the stock can hit its upper circuit with just a minor increase in the amount of buy orders. Even if the stock prices are within the traditional buying range for these investors and offer enormous potential profits, penny stocks are quite dangerous for retail investors. 

Written by Sheshadri N


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