Shares of Rajneesh Wellness Limited (RWL) may remain the center of discussion in the market on Monday. The stock had closed at Rs 1.71 on Friday, registering a decline of 3% that day. However, this penny stock is likely to see a rise on Monday. The reason for this is the company declaring itself debt free.
Company’s announcement: Freedom from debt
The company informed the stock exchange on December 6 that it has fully repaid its term loan and cash credit accounts with State Bank of India (SBI). After this the company has received no dues certificate. The company described it as its financial achievement. With this announcement, Rajneesh Wellness is now completely debt free.
The company said:
“We are proud to inform that Rajneesh Wellness Limited has settled all its debts. “This reflects the financial stability of the company and is a positive signal for our investors.”
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Company’s business and expansion
Rajneesh Wellness Limited was established in 2015 and is headquartered in Mumbai. The company is active in the sale of consumer durables and Ayurvedic personal care products. Its main products fall in the wellness, energy revitalization and personal care categories.
Market Cap: Rs 131.41 Crore 52 Week High Price: Rs 14.69 52 Week Low Price: Rs 1.70
Penny Stocks: Risks and Opportunities
The share of Rajneesh Wellness Limited is a penny stock. Penny stocks are those whose price is usually less than Rs 10.
These stocks attract investors due to their low prices. However, they have high volatility and are considered risky investments.
Note: It is important to be cautious and do proper research while investing in penny stocks.
Why keep an eye on stocks on Monday?
The announcement of the company becoming debt free may increase positivity among investors. Apart from this, the stock may rise due to increase in demand in the market.
Key Information Details Current Share Price Rs 1.71 Company Established 2015 Headquarter Mumbai Market Cap Rs 131.41 Crore Main Products Personal Care 52 Week High Rs 14.69 52 Week Low Rs 1.70
