{"id":108735,"date":"2023-09-01T13:21:29","date_gmt":"2023-09-01T07:51:29","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108735"},"modified":"2023-09-01T13:21:30","modified_gmt":"2023-09-01T07:51:30","slug":"penny-stock-hits-20-upper-circuit-after-company-receives-approval-for-merger","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/penny-stock-hits-20-upper-circuit-after-company-receives-approval-for-merger\/","title":{"rendered":"Penny stock hits 20% upper circuit after company receives approval for Merger"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-733882758\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This penny stock rose 9% in the first hour of market open and recently hits 20% upper circuit. The company has announced a merger in its most recent filing. The company has a market cap of Rs. 33 crore. The stock currently stands 7% away from 52 week high and 26%, 41% above its 20 day mong average and 200 day moving average respectively.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1838614260\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/514330\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">One Global Service Provider Ltd<\/a><\/strong> (\u201cOne Global\u201d) stated in a filing that it has received the Observation Letter with \u2018no adverse observations\u2019 from BSE Limited in relation to various statutory and regulatory approvals for the proposed scheme of amalgamation (&#8220;Scheme&#8221;) for the amalgamation of Plus Care Internationals Private Limited (Transferor Company) and One Global Service Provider Limited (Transferee Company).\u00a0<\/p><p>The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the National Company Law Tribunal and the respective shareholders and creditors of the companies involved in the Scheme, as may be required.&nbsp;<\/p><p>The company posted huge growth in key areas during Q1 FY2024. One Global\u2019s Revenue grew 500% YoY from Rs. 2.1 crore to Rs. 12.5 crore. Net Profit grew 692% YoY from Rs. 0.1 crore to Rs. 1 crore. The company\u2019s EBITDA also rose at a staggering 585% during Q1, from Rs. 0.2 crore to Rs. 1.4 crore.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-576946346\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>One Global Service Provider Limited engages in the provision of life sciences and healthcare solutions worldwide. One Global\u2019s shareholding comprises 30% held by promoters with no pledges, 70% by the public and has no short interest.&nbsp;<\/p><p><strong>Disclaimer<\/strong>: Since penny stocks are generally illiquid, even a small increase in volume of buy orders can lead to the stock hitting its upper circuit. Even though the stock prices come under an average buying range for retail investors and provide huge upsides, penny stocks are prone to huge risks to retail investors. As such, you should consult your financial advisor before taking an entry into such stocks.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Sandeep R<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>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.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-1758973688\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This penny stock rose 9% in the first hour of market open and recently hits 20% upper circuit. The company has announced a merger in its most recent filing. The company has a market cap of Rs. 33 crore. The stock currently stands 7% away from 52 week high and 26%, 41% above its 20 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":69898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[11602,11603,11601,948,936],"class_list":["post-108735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-one-global-service-provider-latest-news","tag-one-global-service-provider-merger","tag-one-global-service-provider-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Penny stock hits 20% upper circuit after company receives approval for Merger - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"This penny stock rose 9% in the first hour of market open and recently rose 18% with a possibility to hit its 20% upper circuit. The company has announced a merger in its most recent filing. The company has a market cap of Rs. 33 crore. The stock currently stands 7% away from 52 week high and 26%, 41% above its 20 day mong average and 200 day moving average respectively.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/penny-stock-hits-20-upper-circuit-after-company-receives-approval-for-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Penny stock hits 20% upper circuit after company receives approval for Merger\" \/>\n<meta property=\"og:description\" content=\"This penny stock rose 9% in the first hour of market open and recently rose 18% with a possibility to hit its 20% upper circuit. The company has announced a merger in its most recent filing. 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