Penny stock under ₹50: Bhatia Communications & Retail (India) Ltd share price jumped over 4% on Monday after the company announced entering into a loan agreement. Bhatia Communications & Retail is a penny stock under ₹50 which rose as much as 4.4% to ₹36 apiece on BSE.
Bhatia Communications & Retail has entered into loan agreement with M/s Interlink Warehousing LLP. As per the details of the Inter Corporate Loan agreement, the company will provide an unsecured loan of ₹5 crore with an interest rate of 15% p.a. to Interlink Warehousing LLP.
The date of execution of the loan agreement is September 20, 2024.
The loan is to be given for a maximum period of 6 months from 1st Disbursement or as and when demanded by the lender, even earlier, the Bhatia Communications & Retail said in a BSE filing.
Bhatia Communications & Retail is a smallcap stock that has rallied over 18% in one week and more than 56% in one month. The smallcap stock is up more than 65% in three months and has given robust returns of over 75% year-to-date (YTD) .
In the past one year, Bhatia Communications share price has jumped over 55%, while it has surged 119% in three years.
At 11:15 am, Bhatia Communications & Retail shares were trading 1.54% higher at ₹35.00 apiece on the BSE.
