Shrenuj has been showing excellent strength for the last many days. In fact, it has now become very difficult to enter this share.Since it’s lows of 2.24 per share on 27th May 2016,it has been rising continuously. As of now the share price is at 4.33.If you want this share now,you have to place the order before hand and if you are lucky enough, your order will be executed. Day by day the volume of the share is decreasing as the investors are very bullish on it and they are not selling the shares.But the bid quantity of the stock is very high.If you look at the shareholding pattern of the company for the march quarter ,this is something of big interest.The promoter holding of the share is 49.99%.If you look at the public holding then above 5% is being held by HSBC Bank.Many financial institutions are holding a huge quantity of the shares in this company as the situation is clear that they are considering the investment as lucrative.You can see the public shareholding pattern here.
The book value of the share is Rs.28.The face value of the share is Rs.2.The company has provided dividend continuously in the past.But the share prices has plunged because of the losses recently. But there is a huge chance that the company will revive as this company is very old.It is doing business for 4 generations now.It is a 100-year-old company which is in the diamond polishing and jewelry business for years.This is a potential multi-bagger and if one wants a risky investment with huge upside, this is a good pick.