By Malvika Gurung
Investing.com -- The startup airways stock Jonjua Overseas (BO:JONJ) has given stellar returns of 66.63% to its shareholders over the past week, making it one of the best-performing penny stocks for the period.
Despite ending the June 16 session on a negative note, down 6.5% at Rs 15.15/share, Jonjua Overseas’ stock jumped almost 70% over the past five trading days. The stock has declined only once during this period.
The penny stock also hit a new 52-week high of Rs 17.49/share on Friday, ending the session with a market capitalisation of Rs 10 crore.
The company’s shares have rallied over 82% in the past one month, and have surged 55.4% so far in the calendar year 2023.
Last week, the micro-cap company applied for Non-Scheduled Operator Permit to the Ministry of Civil Aviation.
Jonjua Air Private Limited had registered and was eligible for bidding under ‘UDAN 5.1’, which stands for ‘Ude Desh Ka Aam Nagrik’ (UDAN). The Ministry of Civil Aviation launched UDAN 5.1 on May 24, 2023, to further enhance the connectivity to remote areas of the country and achieve last-mile connectivity through helicopters.
Jonjua Overseas is the consultant to Jonjua Air Private for the startup of its airways. It is a zero bank debt company.
Earlier this month, Jonjua Air Private provided bonus shares in the ratio of 69:400 to its shareholders, which means that 69 bonus shares were awarded to shareholders for every 400 shares held by them.