Million dollar Multibagger Penny Stocks Under Rs 50 Hit Upper Circumvent & 52-Week High As It Announces Stellar Quarterly Results & Stock Split 978 per cent Increase in Net Profit.

Shares of Franklin Industries Ltd gained 5 per cent to open at Rs 47.7 on the BSE. The stock also touched a new 52-week high of Rs 47.71. The stock witnessed a volume surge of over 3.55 times.

The sudden surge in the stock price can be attributed to the company’s stellar Quarterly Results and the stock split. Below are the details:

Quarterly Results: Net Sales Increase by 106.5% by Rs 16.73 Crore, Operating Profits By 982.4% by Rs 4.68 Crore, Net Profits By 978.4% By Rs 3.45 Crore Compared To Q3FY23.

Stock Split Update: 1 equity share of Rs 10 each Fully paid up into 1 Equity share of Rs 1 Fully paid up will result in issuance of 10 Equity Shares of Rs 1 each Fully paid up. The paid-up capital will remain intact. The purpose of the stock split is to increase liquidity of the company’s equity shares in the market and make the shares more accessible to retail investors. The company has fixed the record date of the stock split to be Thursday, Jan 11, 2023.

Franklin Industries Limited is a financial services company. The company provides real estate services. It also trades various commodities, stocks, gemstones, jewellery, textiles, etc. Franklin Industries serves clients in India. The company’s stock has gained 350% in a year.

The company’s market capitalisation is Rs 17,25 crore. The PE of the company’s shares is 12.4x compared to the industry PE of 80.3x. The company’s return on equity (ROE) is 53 percent and the return on cost of operation (ROCE) is 71 percent. There are no promoters in the company as of September 2023. The company’s 100 per cent stakeholder is the public.

Disclaimer: The article is for informational purposes only and not investment advice.