Ultracab (India) shares jumped nearly 20% in early trade on Monday, with the penny stock hitting a 52-week high of Rs 9.84 on the BSE. The stock was trading at Rs 9.75 around 11 am, up 18.9% from its previous close of Rs 8.20.
The rally has brought Ultracab shares within striking distance of their 52-week high of Rs 10.99. The stock has also gained nearly 50% in just over two weeks.
Ultracab Shares Gain Nearly 50% In Two Weeks
Ultracab shares have climbed sharply over the past two weeks. The stock closed at Rs 6.49 on August 21 and has since risen to around Rs 9.70, giving investors a return of nearly 49.5%.
The rally has picked up pace over the past few sessions. Ultracab closed at Rs 6.61 on September 2 and Rs 6.84 on September 3 before jumping to Rs 8.20 on September 4.
The stock added another 18.29% on Monday, opening at Rs 9.20 and touching Rs 9.84 during the session.
Trading volumes also surged on September 4, with more than 20.78 lakh shares changing hands, compared with around 1.97 lakh shares a day earlier.
At around Rs 9.70, the stock is now just Rs 1.30 below its 52-week high of Rs 10.99.
How Did Ultracab Perform In June Quarter?
While the stock has seen a sharp rise, the company's latest financial results for the June quarter were mixed.
Ultracab reported total income of Rs 79.44 crore for the quarter ended June 30, 2026. This was higher than Rs 60.19 crore reported in the same quarter last year. Revenue from operations also increased to Rs 79.36 crore from Rs 60.13 crore.
However, profit did not align with the growth in revenue. The company's profit for the quarter declined to Rs 1.07 crore, compared with Rs 1.70 crore in the year-ago quarter. This dragged down the earnings per share to Rs 0.09 from Rs 0.14 a year earlier.
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