Multibagger Penny Stock: Bumper jump of 20 percent in this stock, investors became rich, competition to buy stock

Multibagger Penny Stock: Bumper jump of 20 percent in this stock, investors became rich, competition to buy stock

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Mumbai: Sensex and Nifty started with a decline in the stock market today. Slowness is being seen in the market. However, there are many stocks in which despite the fall in the market, there is a boom. One such stock is of Tasty Bite Eatables Limited. The shares of the company are seeing a jump of 20 per cent today. The stock has reached its upper circuit amid heavy buying by investors. The stock is looking strong on the technical charts as well. The 200-day moving average (DMA) of the stock stood at Rs 11,518.26 as on August 09, while the 50-DMA was seen at Rs 13,134.83. In a recent crossover, the 50-DMA crossed the 200-DMA with the current price at Rs 17,300.80. This indicates strength in the long term.

In the first quarter of FY24, the company’s revenue has witnessed a stupendous growth of 29.41 per cent. 154 crore as compared to the same quarter last year. The operating profit of the company has also increased. It has reached Rs 33 crore.

Moreover, the net profit of the company has seen a healthy growth of 162.5% over the same quarter last year. The total was Rs 21 crore. The Earning Per Share (EPS) for Q1FY24 is Rs 83.28.

Explain that the company prepares packaged vegetarian food products. Its products are available in the United States, Australia, United Kingdom, Germany and Canada. The stock has gained more than 48% in the last one year. Investors can add it to their portfolio to earn profits.

This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.

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