Penny stock below ₹5: Srestha Finvest shares hit lifetime high after 55% rally in one month

  • Penny stock below 5: Srestha Finvest shares traded ex-split on 13th October 2016 in 1:5 ratio

Asit Manohar
First Published14 Jun 2024, 01:15 PM IST
Penny stock below  <span class='webrupee'>₹</span>2 has risen from  <span class='webrupee'>₹</span>1.17 to  <span class='webrupee'>₹</span>1.87 apiece in one month.
Penny stock below ₹2 has risen from ₹1.17 to ₹1.87 apiece in one month.(Photo: Pixabay)

Penny stock under 5: Shares of Srestha Finvest Ltd have been on an uptrend after ushering in the new financial year 2024-25. The penny stock bottomed out at 1.04 apiece at the end of March 2024 and has scaled to 1.87 in the new financial year, delivering nearly 45 percent in FY25. This significant increase can be directly attributed to the company's recent partnership with Felix Industries, a strategic move that has significantly boosted investor confidence. Srestha Finvest share price today opened with an upside gap at 1.82 per share and touched an intraday high of 1.87 apiece within a few minutes of stock market's opening bell. While climbing to this intraday high, the penny stock below 2 also touched a new lifetime high.

Srestha Finvest share price history

This penny stock below 2 has risen from 1.17 to 1.87 apiece, logging around a 55 percent rally in one month. In YTD time, this penny stock has surged from 1.31 to 1.87 per share mark, recording 40 percent rise in this time horizon. In the last six months, Srestha Finvest share price has ascended from 1.14 to 1.87, registering nearly 60 percent rally in this time period. This consistent upward trend is not just a positive sign for investors, but also a clear indication of the stock's potential for future growth. As mentioned above, this penny stock bottomed out at the end of 1.04 in March 2024, recording around a 45 percent rise.

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Bonus shares, stock split history

According to the information on the BSE website, the penny stock traded ex-split on 13 October 2016 in a 1:5 ratio. Likewise, it traded ex-bonus on 6 July 2018 to finalize eligible shareholders for the issuance of bonus shares in a 1:10 ratio.

Srestha Finvest news

In an exchange filing on Thursday, Srestha Finvest reassured Indian exchanges of their commitment to sustainability by announcing their partnership with Felix Industries. The signing agreement is a significant step towards advancing renewable energy and sustainability initiatives. This agreement not only allows Srestha to lend to renewable energy and clean water-related projects but also underscores their dedication to sustainable development.

Also Read: Greed & Fear: Chris Wood cuts weight in ICICI Bank, Axis Bank, HDFC Bank; adds infra to India portfolio

Speaking on the agreement, Srestha Finvest outlined their strategic vision, stating, "By combining our strengths and resources, we aim to provide robust financial support to a diverse range of Renewable Energy and water-related projects, fostering sustainability and marking a significant move towards Green Environment and sustainable projects. Through this agreement, Felix is well-positioned to secure funding for their renewable energy, clean water, and water recycling projects. The Facility Agreement comprises various provisions to enhance support for Renewable Energy and sustainability-related projects. This partnership with Felix Industries is a key step in our commitment to advancing renewable energy and sustainability initiatives, and we are excited about the opportunities it will bring."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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News in Numbers

Numbers that help you understand news better
$5 M

394,000

$112 B

12.1%

₹133.50 Cr

₹12,300 Cr

$136 M

First Published:14 Jun 2024, 01:15 PM IST
HomeMarketsStock MarketsPenny stock below ₹5: Srestha Finvest shares hit lifetime high after 55% rally in one month

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