loading
loading
Penny stock under 10 rupees Nandan Denim share price surged around 9% on Monday, 7 September, despite weakness in overall broader markets. The stock jumped as much as 8.8% to its day's high of ₹3.08 per share on BSE. Meanwhile, Indian equity markets opened on a cautious note on Monday, with the benchmark Sensex and Nifty slipping in early trading as investors remained concerned about rising crude oil prices, intensifying US-Iran hostilities and the possibility of a US interest rate hike. The 30-share BSE Sensex fell 172.77 points to 76,342.66 in early trade, while the 50-share NSE Nifty declined 63.30 points to 23,832.60. Global developments continued to weigh on market sentiment, particularly the sharp rise in crude oil prices amid escalating geopolitical tensions. Brent crude, the global oil benchmark, was trading 0.78% higher at USD 97 per barrel. Investors are also turning their attention to the upcoming US inflation data, which is scheduled to be released on Friday. The inflation reading is expected to be a key factor in shaping expectations around the Federal Reserve’s interest-rate trajectory and, in turn, could influence global risk sentiment. The penny stock has jumped around 6% in 1 week, 29% in 1 month, 15% in 3 months and 22% in 6 months. However, it has lost 13% in the last 1 year. It had hit its 52-week high of ₹3.74 in September last year and its 52-week low of ₹1.80 in March 2026. Nandan Denim has reported a mixed performance for the June quarter, with its net profit rising despite a sharp decline in revenue from operations. The company’s net profit for Q1 increased 31.8% year-on-year to ₹14.80 lakh. However, revenue from operations fell 40.6% to ₹622.39 lakh, compared with ₹1,047.68 lakh recorded in the corresponding quarter a year ago. The improvement in profitability came despite the decline in revenue, largely due to a substantial reduction in the company’s expenses. Total expenses dropped 40.6% year-on-year to ₹614.50 lakh in Q1, against ₹1,034.40 lakh in Q1 FY26. Despite the lower cost base, profit before tax declined to ₹10.32 lakh from ₹14.82 lakh in the same quarter last year. Tax adjustments also contributed to the rise in net profit. During the quarter, Nandan Denim received a credit of ₹5.07 lakh related to income tax or short provisions for deferred tax from previous years. Meanwhile, basic earnings per share (EPS) improved from ₹0.08 to ₹0.10 during the period. Other income also registered a 57.8% increase, rising to ₹2.43 lakh. Alongside its financial performance, Nandan Denim is pursuing initiatives in renewable energy aimed at improving its energy costs and sources over the long term. As part of this strategy, the company acquired a 6.1% stake in Opera Vayu (Narmada) Private Limited for ₹4 crore. The acquisition was completed through the purchase of 40,02,096 equity shares on July 13, 2026. Opera Vayu (Narmada) Private Limited is involved in the procurement of wind and solar power through the captive renewable energy route, aligning with Nandan Denim’s efforts to develop more sustainable and potentially cost-efficient energy sources over the long term. Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions. Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
document fetched 2026-09-08 02:59 · canonical https://livemint.com/market/stock-market-news/penny-stock-under-10-rupees-nandan-denim-jumps-9-despite-stock-market-selloff-11788774193408.html