1800 per cent returns in this multibagger stock below Rs 100: Company announces stellar quarterly results!
The stock gave multibagger returns of 620 per cent in just 3 years.
Arihant Capital Markets Ltd (BSE: 511605, NSE: ARIHANTCAP), a leading financial services firm, has announced its unaudited financial results for the first quarter ended on 30 June 2023.
According to the quarter results ended June 30, 2023 (consolidated), the company reported a growth of 23.04 per cent YoY in revenue from operations, which rose from Rs 34.78 crore (Q1FY23) to Rs 42.79 crore (Q1FY24). The operating profit increased by 30.77 per cent YoY, from Rs 13 crore in Q1FY23 to Rs 17 crore in Q1FY24. PAT jumped 55.44 per cent YoY, from Rs. 7.45 crore (Q1FY23) to Rs 11.58 crore (Q1FY24).
Additionally, the company is investing in technology to improve client onboarding and increase its funding book. It is also expanding its merchant banking and institutional divisions, with the goal of onboarding 500,000 new customers and achieving double-digit growth in the current year.
Established in 1992 by Mr. Ashok Kumar Jain, Arihant Capital Group had its origins as a boutique stockbroking firm operating in Central India. Over the years, the company has grown exponentially, and today, it stands as a prominent financial services entity in India under the name Arihant Capital Markets Limited. The company has a market cap of Rs 616 crore with a 5-year stock price CAGR of 26 per cent.
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Arihant Capital Markets Limited has diversified its offerings, providing a comprehensive range of financial products and services. These encompass equities, commodities, currency trading, financial planning, depository services, personalized portfolio management (PCG) services, merchant banking, and investment banking solutions. By catering to individuals, corporations, and financial institutions alike, the company is dedicated to providing prudent financial guidance and facilitating wealth generation for its clients.
On Monday, shares of Arihant Capital Markets Ltd zoomed 2.11 per cent to Rs 60.44 per share from its previous closing of Rs 50.17. The stock’s 52-week high is Rs 87 and a 52-week low is Rs 33.01.
The stock gave multibagger returns of 620 per cent in just 3 years and over 1,800 per cent returns in 1 decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.