Penny stock price skyrocketing: The stock market saw a big fall on last Friday. Even in the midst of this decline, there were many such penny stocks, which registered a stormy boom. One such penny stock was that of Navodaya Enterprises. On the last trading day of the week, this cheap scrip gained almost 20% and reached the level of Rs 8.82. This is also the 52 week high level of the stock. The stock closed at Rs 8.44 at the end of trading. It shows a gain of 14.83% compared to the previous day.

The reason for the rise in the stock
Actually, the board meeting of Navodaya Enterprises was going to be held on Saturday i.e. 22nd July. Prior to this board meeting, investors made a tremendous purchase of shares of Navodaya Enterprises. Explain that the proposal for preferential issue for allotment of equity shares of the company was discussed in the board meeting. Apart from this, the board has given the responsibility to the MD and CFO for the correct valuation of the shares.

This share can go to ₹ 220, the company got a contract of ₹ 800 crore from the defense, experts said – buy

one year return
Shares of Navodaya Enterprises have given positive returns of 135 per cent to the investors in one year period vis-à-vis BSE. On a year-to-date basis, this return stood at 76 per cent. Returns of up to 46 and 42 per cent have been received in three months, one month period respectively. The stock has climbed up to 21 percent in a week. Let us inform that in August 2022, this share had come down to Rs.3.