Stock of this Z group company has zoomed over 3,300% so far in 2024 | News on Markets
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Thus far in calendar year 2024, the stock price of Marsons has skyrocketed 3,352 per cent, or nearly 35 times, from the level of Rs 7.75 it was on December 29, 2023.
Out of 186 trading days, the stock of the transformers manufacturer and distributor company has locked in upper circuit on 158 days, data from the exchanges showed.
Stocks are also classified in the ‘Z’ category if they have not made the required arrangements with both the depositories, that is, Central Depository Services (CDSL) and National Securities Depository (NSDL) for the dematerialisation of their securities.
According to the management, the demand for the company’s product in coming years will increase significantly.
The expansion of the infrastructure industry and real estate business, extensive rural electrification programme of the Indian government, development of shopping malls, and complexes, among other infrastructure development activities, will create demand for various types of transformers, the company’s management said in its FY24 annual report.
They added that the company, working in this industry with flexibility, will survive and have a bright future due to the growing demand.
The current scenario is very encouraging because the major thrust of the government is on the power and Infrastructure sector. However, the company’s nature of business is capital intensive and hence any delay in the cycle causes huge interest loss and weighs on the bottom line of the company, the management added.
The company had posted a net profit of Rs 0.45 crore in Q4FY24.
Net sales of the company rose to Rs 29.88 crore in Q1FY25, from Rs 0.23 crore in Q1FY24.
First Published: Sep 26 2024 | 1:17 PM IST
