Dark horse stocks of the day: Maral Overseas jumps 20% and hits the upper circuit

Shares of Maral Overseas Limited witnessed a significant surge today. The stock commenced trading at Rs 61.46, 0.86% up from the previous day’s closing price of Rs 60.93 each.

The stock’s 52-week high and low are Rs 78 and Rs 44.20, respectively. Possessing a market capitalization of Rs 303.46 crore, the stock has showcased outstanding performance in recent periods, yielding a 40% return within a month.

Upon scrutinising today’s share volumes, it becomes apparent that there has been a substantial increase of over 17.75 times in trading volumes compared to its average volumes on the BSE. While writing the article it is trading at Rs 73.11 and locked into the upper circuit limit of 20%.

Maral Overseas Limited, part of the highly diversified LNJ Bhilwara Group, is a vertically integrated textile manufacturing company producing Gray Yarn, Dyed Yarn, Knitted Fabric, and Garments.

Here are the daily trading and delivery volumes in the company’s stock:

Financial Performance

In the June quarter of FY24, the company’s revenue from operations experienced a decline of 12.13% YoY, going from Rs 259 crore to Rs 228 crore. The company reported an operating loss of Rs 2 crore against an operating profit of Rs 10 crore in the corresponding quarter last year, and on a sequential basis, from an operating profit of Rs 12 crore to an operating loss of Rs 2 crore.

Meanwhile, the net loss of the company amounts to Rs 14 crore, against a profit of Rs 2 crore in the corresponding quarter last year.

The book value of the company is Rs 34, which means the stock is trading at a price-to-book value of 2.15 times in the market.

Here is the chart presentation of the company’s shares on the weekly time frame:

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.