Did you know about a company that reported sales of less than Rs 1 crore over 5 years, zero profit and yet, its market capital has surged 4500 percent in the last 10 months?
Bhirdi Chand Pannalal is engaged in business financing and construction of buildings and independent houses. In recent times, it has been trying to enter the infrastructure segment.
The company has 32.5 lakh shares listed on Bombay Stock Exchange (BSE) since May 2014.
It has negative reserves and surplus because of accumulated losses. The size of its Balance Sheet is just Rs 3.2 crore and has no non-current assets currently. The company has investments in six companies worth Rs 3 crore.
The total cash balance is Rs 1.24 lakh. Despite any asset or cash flow in its Balance Sheet, the stock of the company is inching higher on BSE.
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