Multibagger Debt Free Penny Stock Sees Fresh Buying By FIIs: Do You Own?

RO Jewels, a leading gems, jewellery and watches company, has recently informed exchanges that FIIs have bought significant stake through bulk deals and are increasing continuously. According to details available, Vikasa India EIF I Fund-Incube Global Opportunities picked 280000 shares at Rs 7 apiece.

RO Jewels has a market capitalization of Rs 35.26 crore. The company's net profit for the quarter ended on March 31, 2023 increased to Rs 1.91 million from 0.36 million in December 2022 period.

The company's reported a jump in revenue to Rs 490.72 million in the reporting quarter from Rs 104.92 million in December 2022 quarter. The OPM (operating profit margin) in percentage in March quarter was 0.51% and NPM 0.39%.

RO Jewels is a debt-free company. It is engaged actively in the wholesale trade of gold and silver chains. Its primary focus is on offering a range of gold-based chains, bracelets, gold & silver bars, and necklaces.

The company exclusively acquires ready-made chains and other jewelry items from established jewelry manufacturers and independent wholesalers located in Ahmedabad and Mumbai.

On Wednesday the shares of RO Jewels opened on the BSE at Rs 6.96 apiece and were trading at Rs 7.00 with an upside gap of 0.57% from its previous close while writing this copy. The stock made a 52-week-high of Rs 13.37 on (20/01/2023) and a 52-week-low of Rs 2.15 on (10/08/2022), indicating that at the current market price the stock is trading 47.64% below the 1 year high and 225.58% above the 1 year low.