Tata Steel's Penny Stock Gives 145% Gains In Less Than Six Months, Top 2024 Winner; Fundamentals For the Share

India's metal giant, Tata Steel-backed 1 penny stock has been witnessing robust buying sentiment so much so that it is now a couple of rupees away from its 52-week high. It is none other than TRF Ltd which is engaged in the business of industrial equipment handling and allied services. In the trading week from June 10-14, TRF gained by 8.2% on BSE.

Although TRF is a no-analyst coverage stock, it has still emerged among the top winning stocks of 2024.

Currently, on BSE, TRF is at Rs 608 apiece, with a market cap of Rs 669.11 crore, The stock is near its 52-week high of Rs 670.00 apiece. While it trading higher by 272% from its 52-week high.

On month-on-month, TRF is up by 9% on BSE, while in six months, the stock zoomed by 140%. Year-to-date, the stock has skyrocketed by a whopping 145.35%.

As of March 31, 2024, Tata Steel is the promoter of the company with a shareholding of 37,53,275 equity shares of 34.11%.

TRF Management Change:

TRF will be in focus for its big update. The company has made key changes to its top management. Last week, the company appointed Dr Sougata Ray as an Additional Director (Non-Executive, Independent) effective June 14, 2024, to hold the office of Director up to the date of the ensuing Annual General Meeting of the Company.

While the board appointed Dr. Venugopal as an Independent Director of the Company, for the first term commencing
from June 14, 2024, through May 10, 2028, and Dr Ray as an Independent Director of the Company for a term of 5 (five) consecutive years, effective June 14, 2024, through June 13, 2029, subject to the approval of the Shareholders of the Company.

Also, Ramya Hariharan and Krishna Dutt were re-appointed as Independent Directors of the company for 5 years tenure.

Key Fundamentals For TRF Shares Ahead:

Here are the key fundamentals of the stock as per Trendlyne data:

- Stock Price rose 258.53% and outperformed its sector by 107.94% in the past year.

- Debt to Equity Ratio of 3.05 is higher than 1. This implies that company assets are financed through debt.

- Mutual Fund Holding remained the same in the last quarter at 0%.

- Interest Coverage Ratio is 4.17, higher than 1.5. This means that it can meet its interest payments comfortably with its earnings (EBIT).

- Price to Earning Ratio is 19.82, lower than its sector PE ratio of 75.02.

- Return on Equity(ROE) for the last financial year was 88.58%, more than 20% in the last financial year, indicating an efficient use of shareholder's capital to generate profit.

- Promoter Share Holding stayed the same in the most recent quarter at 34.12%.

- Promoter Pledges are zero.

Incorporated in 1962 as Tata-Robins-Fraser Ltd. and re-christened as TRF Limited in 1994, the company is the most comprehensive provider of equipment and services to the infrastructure sectors of the economy such as Steel, Mining, Power and Ports, amongst others, using leading-edge technologies with customer-friendly service and credible performance.

TRF exited FY24 with a net loss of Rs 4.98 crore, as against a profit of Rs 1.05 crore in FY23. Meanwhile, its revenue for FY24 plunged to Rs 139.95 crore as against Rs 177.10 crore in FY23.