Small-cap stock below ₹10 jumps 5% from intraday low after Q1 results 2023

livemint.com:

Small-cap stock below ₹10: GG Engineering shares have been in uptrend for the last one month. After remaining under the sell off heat for long, this penny stock of the Indian stock market is trying to come out of the base building mode. In last one month, this small-cap stock below ₹5 has delivered more than 30 per cent return to its shareholders.

However, the small-cap stock was under pressure in early morning deals. But, soon after the outbreak of Q1 results 2023, the small-cap stock witnessed strong buying interest and it bounced back from its intraday low by over 5 per cent. GG Engineering share price today opened upside at ₹1.15 apiece levels.

However, the penny stock price around ₹5 soon came under the profit booking pressure and made intraday low of ₹1.12 apiece levels on BSE. But, the stock bounced back strongly from the intraday low and hit intraday high of ₹1.18 apiece, logging more than 5 per cent appreciation from its intraday lows. In Q1FY24, the small-cap company has reported around 145 per cent rise in revenue from operations at ₹18.95 crore against ₹7.78 crore revenue from operations in the corresponding period in previous financial year.

Company's EBIDTA surged around 225 per cent YoY in April to June 2023 quarter. In recently ended June 2023 quarter, company's EBIDTA stood at ₹53.02 lakh against ₹16.22 lakh in Q1FY23. Small-cap company's PAT increased by 144.79 per cent from ₹13.84 Lakh in Q1 FY23 to ₹33.88 Lakh in Q1 FY24.