Indian stock markets are perpetually gaining for the last one year and now are hovering near record highs. The bull run in domestic equities has been better than expected, be it the primary market or the secondary. Key benchmark indices have returned about 27-28% in one year, which is relatively a much decent yearly return as far as the Indian stock market is concerned. In 2017, Investors not only have benefitted from the upswing in existing listed shares but a huge participation has also been seen in IPOs (initial public offerings) so far.
We take a look at a small cap stock which has been rising 5% almost everyday for the last one month. A small cap stock — California Software — has nearly tripled the investment in one month, leaving far behind India’s equity benchmarks Sensex and Nifty in terms of returns.
Shares of IT company California Software have nearly tripled in the last one month. The stock has surged over 180% in last one month to Rs 86.4. Even today, the stock gained 5% and was locked in the upper circuit. California Software is an offshore software services provider which outsources enterprise software solutions. Interestingly, the stock of California Software has risen 5% each on most of the trading days in the last one month.
California Softwares Company Ltd is traded on both BSE and NSE. The stock has a scrip code: 532386 on BSE and ISIN (international security identification number): INE526B01014. California Software Company reported a net loss of Rs 23 lakh in the quarter ended 30 September. The company posted a profit of Rs 2.33 crore in the same period a year ago. The company has reported zero sales for the last two quarters.
Another penny stock
Shares of Urja Global have also witnessed a similar trend for the last one month. The stock of Urja Global has more than doubled the investor’s wealth in just one month with whopping returns of about 120%. Shares of Urja Global are also traded on both BSE and NSE. The stock of Urja Global with a scrip code: 526987 on BSE and ISIN: INE550C01020, has now risen to Rs 3.15. Shares of Urja Global have been gaining more than 3% almost everyday for the last one month, however, today it surged 5% and got locked in upper circuit.