Penny Stock Under Rs 3, LIC-backed: 156% RETURNS in a year
gtl infra share price, penny stock under rs 3: lic-backed; 156 percent returns
Penny Stock Under Rs 3, LIC-backed: A penny stock priced under Rs 3, has delivered a whopping 156% return over the past year. Interestingly, India's largest insurance company, Life Insurance Corporation of India (LIC), holds 3.33% stakes in this penny stock.
Not only LIC, but also several major public sector and private banks have invested in this stock.
Union Bank of India holds a 12.07% stake, Central Bank of India has a 7.36% shareholding, Bank of Baroda owns 5.68%, Indian Overseas Bank holds 5.23%, while Canara Bank and ICICI Bank hold 4.05% and 3.33% stakes, respectively.
To end the suspense, the stock we are talking about is GTL Infrastructure.
GTL Infrastructure Company Profile
GTL Infrastructure deploys, owns, and manages telecom towers and communication structures shared by wireless telecom operators. The company has a portfolio of about 26,000 towers across all 22 telecom circles in India.
GTL Infrastructure Share Price
As of Friday, June 14, GTL Infrastructure's current market price is Rs 2.15 per share. The penny stock has been hitting the upper circuit for the past five sessions, except on Thursday, June 13, when it hit the lower circuit.
At the current market price, the stock is trading above its 20-day, 50-day, 100-day, and 200-day exponential moving averages (EMAs). Its Relative Strength Index (RSI) is at 74.48, trending upwards, indicating bullish momentum in the stock.
GTL Infrastructure Share Price Hstory
GTL Infrastructure is a constituent of S&P BSE Smallcap and boasts a market cap of Rs 2,753.57 crore. Its shares, as per BSE Analytics, have appreciated 26.5% in the past one week, 43.33% in two weeks, and 58% so far in 2024. In the past one year, it delivered a massive return of 156%.
Looking back further, the scrip yielded 186.67% returns in the past 5 years.
GTL Infrastructure Share: Risk Analysis
While penny stocks might appear appealing due to their low cost and potential for significant returns, they are also highly volatile and often suffer from low liquidity. Low liquidity means there are not many buyers and sellers actively trading in a particular stock. This lack of trading activity can make it difficult to buy or sell the asset quickly at a desired price.
GTL Infrastructure is one such stock, plus its is in short term ASM - Stage 1 on both the exchanges.
Additional Surveillance measure (ASM) is an initiative by the Securities Exchange Board of India (SEBI) and exchanges to safeguard the interests of the investors and enhance market integrity. Stocks under ASM are divided into two categories, i.e. long-term ASM and short-term ASM.
Certain stocks are placed under ASM list to monitor and regulate their trading activity more closely. Market regulator SEBI keeps a watch on the stock to prevent it from any irregular activity.
It may be noted, as per BSE website that the shortlisting of securities under short term ASM is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company.
Further, it may also be noted that the company has been consistently reporting losses for the past 10 years.
The stock also has a low promotor holding of just 3.28%.
GTL Infrastructure Q4 Results 2024
In the quarter ended March 2024, GTL Infrastructure reported a net loss of Rs 214.72 crore. The silver lining is, losses shrunk from Rs 755.87 crore net loss reported in the same quarter of the previous year. Sales for the quarter declined by 12.38% to Rs 331.09 crore compared to Rs 377.87 crore in the previous year.
For the full year ended March 2024, GTL Infrastructure's net loss was Rs 681.36 crore, down from a net loss of Rs 1816.91 crore in the previous year. Sales for the year decreased by 5.89% to Rs 1372.01 crore from Rs 1457.86 crore in the previous year.