Small cap stock: Penny stock Debock Industries saw strong traction on Monday, November 25, surging 20 per cent to hit its upper circuit ahead of the company's September quarter result. Debock Industries' share price opened at ₹6.20 against its previous close of ₹6 and surged 20 per cent to the level of ₹7.20 on the NSE.
In an exchange filing on November 25, the company said it would consider and approve the unaudited financial results for the half-year ended September 2024 on November 27.
Earlier on November 12, the company announced the opening of its destination wedding resort in Chakshu, Rajasthan.
According to the company, the financial impact of this project is expected to be highly significant.
"Based on our initial projections, we anticipate a robust profit margin of approximately 20 per cent from the revenues generated through bookings and associated services. This strategic initiative not only reinforces our position as a leader in the hospitality sector but also serves as a testament to our unwavering commitment to creating value for our stakeholders," said the company.
The stock has been subdued over the last year. At the current market price of ₹7.20, the stock is down 16 per cent in the last one year. It hit a 52-week high of ₹11.85 on December 13 last year and a 52-week low of ₹5.28 on October 29 this year.
On a monthly scale, the stock has surged 32 per cent in November so far.
Data show the stock is witnessing heavy investor interest. Around 1:15 pm on Monday, the stock's trade volume was about 1.3 crore.
Read all market-related news here
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
