₹9 Debt-Free Penny Stock Jumps 17%, Could Be the Next Multibagger!

Ganon Products Ltd: While the trading began with a dip in the stock market this Monday morning, some improvement was evident from the lower level of support.

The 24,750 mark was a reliable support level for Nifty and there was some buying this level.

Stock-specific activity is continuing to dominate the market, and investors want to stay stock-specific until the Fed’s decision regarding the rate cut in September.

In such a scenario stocks that have good fundamentals could be a good choice.

Certain penny stocks that have growth potential are also in the attention of investors, among the latter Ganon Products Ltd is also one of the stocks that investors purchased on Monday.

Ganon Products Limited was trading at 8.78 rupees in the morning of Monday, with an increase of 17 percent.

The Stock Is Gaining Momentum

This trend of bullishness can be seen in this stock following several days. Investors are watching it, even though it has been silent during the last few trading sessions.

In the last month, Ganon Products has shown some positive signs and provided a profit in the amount of 29 percent to investors.

In addition, however, no major price rise has been observed in this particular stock.

The increase in the last month suggests the fact that Ganon Products is now gaining momentum and is likely to continue its expansion.

It Is A Debt-free Company

Ganon Products Ltd has no debt, even though its operations are extremely limited. One of the benefits of not being in debt is that when the company requires funds for large-scale projects, the company can be able to get the money.

While not having debt may affect the equity of the business, however, if profit margins are excellent, this could be handled.

The Book Value Is More Than The Current Share Price

Ganon Products’ current share price Ganon Products is Rs 8.78 and its book value is Rs 11.80.

This implies that the business has enough assets, and if it is required shortly, it can repay the investment amount of shareholders through the sale of its assets.

But other indicators of the business are crucial and some require immediate improvement, for example, the company’s return on equity, which is 1.19 percent, and this could be considered to be very poor.

The company must expand its operations so that ROE can be increased.

Quick Fact

Company nameGanon Products
Stock Price₹8.78
Price Increase17%
1-Month Return29%
Debt StatusDebt-free
Book Value₹11.80
Return on Equity1.19%
Improvement NeededReturn on Equity

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