2 min read 30 May 2024, 02:30 PM IST Trade Now
Small-cap stock: Despite sell-of rpessure in stock market today, GRM Overseas share price opened upside and touched intraday high of ₹143.25
PremiumStock market today: Despite selling pressure in the Indian stock market on soaring uncertainty ahead of the Lok Sabha Election Results 2024, some small-cap stocks are witnessing strong buying interest during Thursday’s dealings. GRM Overseas shares are one of them. GRM Overseas share price today opened upside and touched an intraday high of ₹143.25 per share, logging an intraday rise of around 4 percent against yesterday’s close of ₹137.90 apiece on NSE. The small-cap company with a market cap of ₹849 crore declared Q4 results 2024 on Wednesday after the market close. Despite solid selling pressure on Dalal Street, this rise can be seen as a market reaction.
GRM Overseas Q4 results 2024
In Q4FY24, the company’s net profit was ₹21.17 crore, around 88 percent higher than the net profit of ₹11.27 crore in Q4FY23. On a Q-o-Q basis, GRM Overseas’s net profit grew from ₹15.49 crore to ₹21.17 crore. This means the company registered a 37 percent rise in net profit on a sequential basis.
Also Read: Q4 results 2024 effect: Penny stock jumps 10% despite stock market crash
In FY24, GRM Overseas demonstrated effective expense management. On a yearly basis, the company’s expenses decreased from ₹420 crore in FY23 to ₹390 crore. However, the company increased its provisioning by over 23 percent in FY24. This decision led to a decrease in the total income of the company, both on a quarterly and yearly basis.
This small-cap stock is available for trade on both BSE and NSE. Its market cap is ₹849 crore. Its current trade volume on NSE is around 24 thousand, and during Thursday deals, around one hour and 15 minutes of trade are still left. The 52-week high of this small-cap stock is 230.40 on the NSE, whereas its 52-week low is ₹113 apiece.
Stock market today
Following weakness in the global market sentiments, the Indian stock market continues to trade weak for the fifth straight session during Thursday deals. Among frontline indices, the Nifty 50 index is down by nearly 160 points, whereas the BSE Sensex is down by around 350 points. However, the Bank Nifty index is up by around 300 points. The small-cap index is down by around 0.80 percent in the broad market, whereas the mid-cap index corrected around 0.65 percent.
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Published: 30 May 2024, 02:28 PM IST
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