Multibagger penny stock at Rs 2.52 in green as Board likely to announce stock split; Rockets over 120 per cent in just 1 year!
From Re 0.98 per share (52-week low) to Rs 2.52 per share (intraday high), the stock gave multibagger returns of 157 per cent.
On Monday, shares of Srestha Finvest Ltd Srestha Finvest Ltd gained 4.56 per cent to an intraday high of Rs 2.52 per share from its previous closing of Rs 2.41. The stock’s 52-week high is Rs 2.56 while its 52-week low is Re 0.98.
Srestha Finvest Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Wednesday, July 31, 2024, at 2.00 P.M. at the registered office of the Company to transact the following major businesses:
- Sub-division of the equity shares of the company of face value of Rs 2 each into equity shares of face value of Re 1 each pursuant to the provisions of Section 61 (1) (d) of Companies Act, 2013 and other applicable provisions, if any.
- Any other Business with the permission of the Chair.
On July 23, 2024, the company's board of directors, in compliance with the registrar's regulations and stock exchange allotment guidelines, approved the issuance of 24 crore rights equity shares with a face value of Rs 2 each, priced at Rs 2 per share, resulting in a total paid-up equity share capital of Rs 48 crore. Concurrently, the company solidified its partnership with Felix Industries Ltd through a Facility Agreement to promote sustainable development. This agreement entails a two-phase, Rs 50 million investment from the company to support Felix's construction of a new plant specializing in renewable energy, clean water, and water recycling technologies, fulfilling an order from Aarti Industries Ltd. This collaboration underscores the company's commitment to environmentally responsible lending, positioning it as a leader in sustainable finance. The financial backing will enable Felix to implement a plant with a positive environmental impact, exemplifying the growing emphasis on eco-friendly business practices as both companies strive for a greener future.
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About the Company
Established in 1985, Srestha Finvest Ltd. is a multifaceted financial services company offering various solutions, including loans, financing, and investments. They hold a specific regulatory license: a Category B Non-Systematically Important Non-Deposit Taking NBFC - Investment and Credit Company. This allows them to provide loans secured by various assets (securities, movable and immovable properties), offer hire purchase and leasing options, and engage in trading and investing shares.
Quarterly Results
The total increased by 710 per cent to Rs 564.16 lakh in Q4FY24 compared to the total income of Rs 69.68 lakh in Q4FY23. The company reported a net profit of Rs 506.35 in Q4FY24 compared to a net loss of Rs 461.37 crore in Q4FY23, an increase of 210 per cent.
Annual Results
The total increased by 269 per cent to Rs 1,013.01 lakh in FY24 compared to the total income of Rs 274.56 lakh in FY23. The company reported a net profit of Rs 173.86 in FY24 compared to a net loss of Rs 497.41 crore in FY23, an increase of 135 per cent. The company reported a net profit in FY24 after reporting a net loss for the past 5 years i.e., FY23, FY22, FY21, FY20 and FY19.
The company has a market cap of Rs 188 crore and its 100 per cent stake is owned by the public. From Re 0.98 per share (52-week low) to Rs 2.52 per share (intraday high), the stock gave multibagger returns of 157 per cent and in 1 year stock is up by 120 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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