Penny stock below Re 1: A Mauritius-based foreign institutional investor (FII), Al Maha Investment Fund PCC, bought a stake in penny stock Sharanam Infraproject and Trading Ltd. via a bulk deal on Tuesday, February 25. According to BSE bulk deal data, Sharanam Infraproject and Trading Ltd witnessed a major institutional inflow, with Al Maha Investment Fund PCC- ONYX Strategy acquiring nearly 9,000,000 shares at Re 0.86 per share through the bulk deal.
According to the company’s statement on Tuesday, the significant investment via bulk deal highlights growing institutional confidence in the growth potential and future prospects. Sharanam Infraproject and Trading Ltd supplies building materials to cater to the construction and real estate industries.
Penny stock below Re 1: Sharanam Infraproject and Trading Q3 Results
In the December 2024 quarter, the company reported a 518 per cent sequential increase in net profit, with total revenue surging by 3,563 per cent quarter-on-quarter (QoQ). This dramatic financial improvement underscores the company’s ability to scale operations efficiently and capitalize on growth opportunities.
The company said the transition from negative to positive earnings year-on-year places Sharanam Infraproject in a position of potential re-rating. “One of the strongest factors in its favour is its debt profile, which makes it more resilient.”
