FII-backed penny stock under ₹10 hits 52-week high. Gives 85% return in six months
Penny stock under ₹10: Shares of East West Holdings Ltd are one of those rare penny stocks of the Indian stock market, which is backed by foreign institutional investors (FIIs). Mauritius-based FII AG Dynamics Fund holds the majority of FIIs' stake in this penny stock under ₹10. The FII holds a 6.78 per cent stake in this small-cap stock under ₹10.
In the last six months, this FII-backed penny stock has delivered an 85 per cent return to its shareholders. However, it seems that the penny stock still possesses some steam to give upside movement. East West Holdings share price today opened upside and went on to hit an intraday high of ₹8.78 apiece levels on BSE, locking in an upper circuit within a few minutes of the stock market's opening bell.
Also Read: Ashish Kacholia portfolio: Balu Forge shares hit record high. Do you own? In the last one month, this AG Dynamics Fund-backed penny stock under ₹10 has surged from around ₹6.65 to ₹8.78 apiece levels, delivering around 30 per cent return to its shareholders. In the last six months, this small-cap stock under ₹10 has risen from ₹4.69 to ₹8.78 per share level, recording over 85 per cent rise in this time.
In the last one year, this FII-backed penny stock shot up from ₹5.98 to ₹8.78 per share levels, registering over 45 per cent rise in this time. Also Read: Reliance Industries-Analysts maintain bullish 2024 outlook led by Retail and Jio As per the shareholding pattern of East West Holdings Ltd for the July to September 2023 quarter, this Mauritius-based FII holds 86.50 lakh East West Holdings shares, which is 6.78 per cent of the total paid-up capital of the company. However, from April to June 2023 shareholding pattern of the company, AG Dynamics Fund name was missing
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