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Dark Horse Stock of the Day: Alphageo Surged 20% and Hits Upper Circuit Today
The shares of Alphageo have delivered a return of over 70% to its shareholders in the past 6 months.
Incorporated in 1987, Alphageo Ltd provides geophysical seismic data acquisition, processing, and interpretation services for the exploration of hydrocarbons and minerals. AIL offers seismic survey services to the oil exploration and production sector. It is an Indian geophysical company that provides comprehensive services covering land seismic data acquisition, processing, and interpretation. Today the company experienced a significant surge in its share price.
At the start of the day’s trading session, the stock opened at Rs 430 per share, compared to the previous day’s closing figure of Rs 398.55 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 478.25 per share on the BSE. The stock has reached the upper circuit price limit of 20%, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.
Alphageo Ltd’s current market capitalization stands at Rs 304.39 crore, and the stock has generated an impressive return of over 70% in the past 6 months.
Stock Price Chart (Daily)
Financial Performance
In Q4 FY24, Alphageo Ltd reported revenue of Rs 51.89 crore compared to Rs 14.12 crore, representing a growth of 267% YoY. The company reported an operating profit of Rs 14.76 crore compared to Rs 1.06 crore in Q4 FY23. The company reported a net profit of Rs 4.07 crore in Q4 FY24 compared to a net loss of Rs 1.03 crore. Turning attention to the company’s annual performance, it reported revenue of Rs 98.67 crore compared to Rs 65.95 crore in FY23. The company reported an operating profit of Rs 11.08 crore. The company’s net profit stood at Rs 1.05 crore in FY24.
According to the shareholding pattern, the company’s promoters hold 46.09% while the public or retail investors own 52.01%. FIIs and DIIs hold 1.86% and 0.03% respectively.
Investors must keep this stock on their radar.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.