Penny Stock Below Re 1 Hits Upper Circuit Amid Relief Rally in Indian Stock Market

Sharanam infraproject share price was locked in at 5% upper circuit on Friday, amid a rally in Indian stock market. Sharanam infraproject shares were up 5% at 0.43 apiece on the bse.

Building Materials and Real Estate Services Provider Sharanam Inframproject and Trading Announced that its board of directors has approved the incorption of a wholy Owned Subsidiary (UAE) with a proposed investment of up to 40 Crore.

This proposed subsidiary will serve as the company’s strategic international arm and will be incorporated under the applicable legal framework in dubai, uae, sharanam infraraproate and trading saiding in ajolatory Filing on June 19.

The company proposes to invest approximately aed 15.5 million to aed 18 million (Equivalent to 35 – 40 Crore) Over the Next 6–9 months, Including Working Capital and Deal Facilitation costs.

The subsidiary aims to acquire strategically located land parceels and subsequent resell them to larger developers or institutional boys at modest margins. The company aims to operate through a low-Risk, Asset-Light Structure, Ensuring Minimal Exposure on the Parent Company’s Balance Sheet, Quick Capital Rotation and SCATALAL ROTATION SUTATATION SUTANABLATION and SCASH SHE STANIBLE and Scalableble Cash Company said.

In February 2025, The Company Raised 48 Crore Through Rights Issue to Fund Its Expantion Plans Including Working Capital Requirements.

For the Financial Year 2024-25, Sharanam Infraraproject and Trading Reported Net Profit of 5.08 Crore, Multifold Growth as compared to net profit of 3 lakh in the corresponding period last year. Revenue for25 also rose to 37.4 Crore as compared to 1.76 Crore in FY24.

Sharanam infraproject share price performance

Sharanam infraproject share price has fallen 4% in one month, and has declared 42% in three months. The Penny Stock has dropped 58% on a year-to-date (ytd) Basis, while it has plunged 20% in one year and 44% over the past five years.

At 1:50 PM, Sharanam Infraproject Share Price Was Still Locked at 5% Upper Circuit of 0.43 apiece on the bse.

Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.