On Thursday, the stock market started trading at a flat level. The Sensex opened 16 points higher at 80,098, while the Nifty fell by 23 points to open at 24,413. During this period, small-cap company GG Engineering’s shares hit a 20% upper circuit in early trading. This surge on Thursday came after the company released its second-quarter results for the financial year, and buyers might remain active in this stock.
20% Increase
On Thursday, GG Engineering Ltd shares jumped 20% from Wednesday’s closing price of ₹1.59 to open at ₹1.90. Before this, the penny stock had been in a downward trend for the last five days. On Wednesday, after the market closed, the company announced its second-quarter results for the financial year 2025, reporting a net profit of ₹11 crore. In the same quarter last year, the company had reported a net profit of ₹1 crore, while in the second quarter of the current financial year, GG Engineering had recorded a net loss of ₹2 crore.
45% Increase in Company Revenue
Additionally, this small-cap company registered an annual revenue growth of 45% for the July-September quarter of 2024, reaching ₹106 crore. In the same quarter of the financial year 2024, the revenue was ₹73 crore. GG Engineering reported an EBITDA of ₹13 crore for the quarter, which is significantly higher than ₹1 crore in the same quarter last year.
60% Return in One Year
GG Engineering Ltd deals in products like structural steel, agricultural pipes, and TOR steel. These products are used in infrastructure, construction, and other major engineering projects. Over the last month, this stock has mostly seen a decline in trading sessions. Investors faced a 10% loss over a six-month period, but it delivered a gain of about 60% over the past year.
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