Rs 1 lakh to Rs 55 lakh: This penny stock turned into a multibagger in a year

The stock of Cressanda Solutions has delivered stellar returns to investors in the last year. Cressanda Solutions shares closed at Rs 35.4 on June 2, 2022 against Rs 0.64 on June 2, 2021 translating into gains of 5,431 per cent during the period. In comparison, Sensex gained 7.61 per cent during the period.

An investment of Rs 1 lakh one year ago in the stock would have grown to Rs 55.31 lakh today. The stock closed 4.89 per cent higher at Rs 35.4 in the previous session. It has gained 39.92 per cent in the last 7 days.

It closed at the high point of the day on June 2. A total of 2.50 lakh shares of the firm changed hands, amounting to a turnover of Rs 4.62 crore on the BSE. The market cap of the company rose to Rs 1,411 crore on BSE. Cressanda Solutions stock is trading higher than the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

In Q4 of the previous fiscal, 35,510 public shareholders held a 99.90 per cent stake or 30.32 crore shares in the firm. One promoter held a 0.10 per cent stake or 3.08 lakh shares in the last quarter. 34,885 public shareholders held 4.6 crore shares of the firm, amounting to a stake of 15.19 per cent with an individual share capital of up to Rs 2 lakh.

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31 public shareholders held 1.63 crore shares of the firm, amounting to a stake of 5.39 per cent with an individual share capital of over Rs 2 lakh.

On a quarterly basis, the firm's net profit stood at Rs 0.21 crore in the March 2022 quarter against Rs 0.01 crore in the March quarter of the previous fiscal. Sales came at Rs 0.04 crore in Q4 of the last fiscal against Rs 0.05 crore in the corresponding quarter of the last fiscal.

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On May 30, Cressanda Solutions said it entered into an agreement with a large institutional client for providing tech-powered infrastructure solutions for unaddressed passenger experience in India.

"The company is poised to innovate, design, and deliver large business projects with technology and software services at its core. The software services include development of business applications, data Sciences, cloud, migration, business process optimization, digital media, technology implementation & maintenance services," a statement said.

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Cressanda Solutions is engaged in information service activities. The company is engaged in providing information technology (IT), digital media and IT-enabled services. Its software services include onsite-offshore development of various business applications, IT consulting, and offshore application development, maintenance, testing, and migration services.

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