Rs 2 Penny Stock Rallies 97% in 15 Days, Soars 336% in 1-Year: Do You Own?

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Rs 2 Penny Stock Rallies 97% in 15 Days, Soars 336% in 1-Year: Do You Own?

By Malvika Gurung -- The plastic and metal barrels manufacturer stock Precision Containeurs (BO: PRCN ) will be in focus this week as its Board of Directors will meet on Tuesday, May 30, 2023, to approve the audited financial results for the quarter and financial year ended March 31, 2023, besides other agendas.

The stock is under the radar as its shares have been rising continuously for the past 15 consecutive trading sessions, rallying 97.11% in the period.

So far in the calendar year 2023, the penny stock is up 54.13% and has surged 84.36% in the past month.

In one year’s time, Precision Containeurs’ stock has given tremendous profit returns to its investors, soaring 336.17% during the period, making it a multibagger stock.

The micro-cap stock is not too far from reaching its 52-week high of Rs 2.15/share, given its last traded price of Rs 2.05 apiece.

Despite Precision Containeurs’ stellar performance over the period, InvestingPro models appear bearish on the stock.

InvestingPro's ‘Price / Book Multiples’ model has set a fair value of Rs 1.07/share set on the penny stock, which as per Friday’s closing price, is at a potential downside of 47.8%.

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