Curious case of agri scrip – grew 35 times within year
By Our Special Correspondent
New Delhi, November 17: On October 31 this year the agri scrp traded just one share on the bourses. The company has almost no financials to showcase, as far as widely known financial websites are concerned, and networth is also in negative. Yet, the share price of this has grown up by 126 per cent in one month.
On December 29, this scrip was trading at Rs 6 with a trading volume of 28,000 shares. On October 27 this year, the scrip had climbed to Rs 68.85 with 1,000 shares trading on the bourses. On Thursday, it still locked in the upper circuit at Rs 155.80. Only 744 shares changed hands on Thursday. In less than a year, this scrip has gone from Rs 6 to Rs 155.80, nearly 35 times return.
The financial website screener.in which maps all the financial records of the listed companies shows zero sales for this company and expenses of Rs 72 lakh in the last quarter. This scrip is Bohra Industries. Its website says that this company is engaged in making fertilizers for agriculture. Also, it’s promoted by Shri Krishna Aggarwal. The website further informs that Aggarwal had been engaged in trading, while he had also worked in steel and cement industries.
On its website, Bohra Industries has listed three products – single super phosphate, granulated single super phosphate, and triple super phosphate. The fertilizer industry leaders stated that such products aren’t exclusive to any company. Yet, the share price of Bohra Industries has multiplied 35 times in less than a year.
According to screener.in this company reported a loss in the September quarter of Rs 1.35 crores without any sales or other income. However, the company had a net asset of Rs 91 crores as on Marc, 2021 but since then there is no publicly available record. Another curious case is that this company reported Rs 16.49 crore cash from operating activity, while also reporting a negative Rs 17.58 crores from the financing activity, and thus showing a net cash flow of only Rs 13 lakh in the March, 2022 quarter, according to Screener.in
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