Last Friday, the stock market showed signs of recovery. Among the rising stocks, some penny shares made significant gains. One such share was Srestha Finvest Limited.
The investment company’s stock increased by about 13% on Friday, reaching Rs 1.34 before closing at Rs 1.33.
In December 2023, the stock price hit a 52-week high of Rs 1.50, while on March 28, 2023, it had dropped to a 52-week low of Rs 1.
March Quarter Results
In the quarter ending March 2024, Srestha Finvest transitioned from a loss to a profit. The company reported a profit of Rs 5.06 crore,
compared to a loss of Rs 4.61 crore in the same quarter the previous year. Sales surged by 705.71% to Rs 5.64 crore from Rs 0.70 crore in the March 2023 quarter.
For the entire financial year ending March 2024, Srestha Finvest achieved a profit of Rs 1.74 crore, reversing a loss of Rs 4.97 crore from the previous year. Annual sales grew by 363.64% to Rs 12.75 crore.
Stock Returns and Shareholding
Over the past week, the stock has risen by 15%. In the last six months, Srestha Finvest shares provided an 11% return to investors, and over the past year, the return was 25%.
Notably, the promoters hold no shares in the company; instead, public shareholders own 100% of the shares.
Stock Market Situation
On the same Friday, the BSE benchmark index Sensex, comprising 30 shares, closed at 73,961.31, gaining 75.71 points or 0.10%.
During the day, it hit a high of 74,478.89 points and a low of 73,765.15 points. Nifty also recovered, closing at 22,530.70, up by 42.05 points or 0.19%.
