Small-cap stock below ₹50: Lancer Container share price jumps 20% as board sets date to declare Q2 results 2024 | Stock Market News

Small-cap stock below ₹50: Lancer Container Lines share price surged 20 per cent to its upper circuit limit of ₹35.97 on the BSE on Wednesday, November 6 amid high volumes in the counter and as the board set date to declare the financial results for the September 2024 quarter (Q2 FY25).

On BSE, the total traded volume of the stock stood at 52.38 lakh, much higher than the two-week average of 10.07 lakh. Meanwhile, the company’s board will meet next week on November 13 to consider and approve Q2 results.

Lancer Container Lines on Tuesday, November 5, in a filing said, “… the meeting of the Board of Directors of the Company is scheduled on 13/11/2024, inter alia, to consider and approve The Standalone and Consolidated Un-Audited Financial Results of the Company and Limited Review Report for 2nd Quarter and Half year ended 30th September, 2024.”

Apart from earnings, the company’s board will also consider decisions pertaining to the right issue, it informed via exchange filing.

Stock Price Action

Lancer Container Lines share price rebounded following two days of back-to-back losses. The small-cap stock surged as much as 19.98 per cent to its upper circuit of ₹35.97 before closing the session at ₹35.44, up 18.21 per cent.

Despite today’s stellar gains, the small-cap stock has fared poorly over the last one year. Lancer Container stock is down 60 per cent in the last one year and 46 per cent in the past six months. On a year-to-date basis, the stock has declined 58 per cent in 2024 so far.

Lancer Container Lines Q1 Results

In the first quarter of the current financial year (Q1 FY25), the company witnessed a 14.2 per cent year-on-year (YoY) decline in its net profit to ₹12 crore from ₹14 crore despite an increase in revenue.

Revenue in Q1 FY25 stood at ₹172 crore as against ₹164 crore reported in the same period last year, suggesting an increase of 4.8 per cent.