On Tuesday’s early trade, the micro-cap stock hit a 2 percent upper circuit, reaching a 52-week high price of ₹479.40 per share after the company board approved raising funds up to ₹27.50 crores via a preferential allotment basis.
TCC Concept Ltd. belongs to the micro-cap category of stocks with a market capitalization of ₹1,008 crore.
The company board approved the issuance of up to 10 lakh equity shares with a face value of 10 in the Non-Promoter category through an approved preferential issue. To raise funds of up to ₹27.50 crores at an issue price of Rs. 275 per share (including a premium of Rs. 265 per share). The company reported this in its exchange filing.
TCC Concept is engaged in trading and allied activities in cotton textile products and intermediaries.
The company’s revenue has increased by 3.5 percent yearly, from ₹28 crore in Q2FY24 to ₹29 crore in Q3FY24. In the same time frame, net profit has jumped by 450 percent from 2 crore to ₹11 crore.
As of the recent shareholding pattern, the company promoter holds a 64.41 percent stake in the company, and retail investors hold a 35.59 percent stake in the company.
In the financial year 2022-23, the company reported a profitability ratio such as a return on equity of 32.16 percent and a return on capital employed of 43.14 percent.
TCC Concept Ltd shares have gained 920 percent in the last six months and 2,855 percent in a year. For example, a shareholder investment of ₹1 lakh in the company a year ago, would be worth ₹29.5 lakhs.
Written by Omkar Chitnis
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