Multibagger penny stock under Rs 70 on radar as Board mulls fund raising after bonus shares; script hits 20 per cent upper circuit & 52-week high!

The stock gave multibagger returns of 200 per cent in just 1 year, 1,100 per cent returns in 2 years and a whopping 2,265 per cent returns in the span of 3 years.

On Friday, one of the Top Gainers on BSE, shares of Mufin Green Finance hit 20 per cent upper circuit to Rs 68.80 per share from its previous closing of Rs 57.34. The stock also made a new 52-week high of Rs 68.80 per share with a spurt in volume by more than 7 times on BSE.

Mufin Green Finance Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Thursday, September 28, 2023, inter-alia:

1. Proposal for raising funds by way of the issue of one or more instruments comprising of equity shares, convertible securities of any other description or warrants or debt securities, through private placement/preferential issue/qualified institutions placement or such other methods or combinations thereof as may be decided by the Board, subject to such statutory/regulatory approvals as may be necessary, including the approval of the shareholders of the company, wherever required.

Earlier, the Board of Directors of the company approved bonus shares in the ratio of 2:1 for the equity shareholders of the company (i.e., 2 equity shares of Rs 1 each fully paid up for every 1 equity share of Rs 1 each fully paid up held as on the record date decided for this purpose). The shares ex-traded bonus issue on Friday, July 07, 2023.

Mufin Green Finance Limited operates as an investment firm. The company offers investment advisory, asset management, capital preservation, and financial planning services. The shares of the company saw a spurt in volume by more than 1.04 times on BSE.

According to the financials, Mufin Green Finance has a market cap of Rs 1,038.85 crore. The company has delivered good profit growth of 141 per cent CAGR over the last 5 years. Additionally, the company have reported stellar Quarterly Results and annual results.

The stock gave multibagger returns of 200 per cent in just 1 year, 1,100 per cent returns in 2 years and a whopping 2,265 per cent returns in the span of 3 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.