Multibagger stock below Rs 100 announces 1:5 stock split!

The stock has witnessed heavy buying as it has given multibagger returns of more than 160 per cent in just 1 year and more than 90 per cent in just 6 months

On Friday, the shares of Comfort Fincap surged more than 3 per cent to make an intraday high of Rs 101.70. The scrip witnessed some profit booking and closed 0.35 per cent down at Rs 98.35.  

The company announced that the board has approved sub-division (stock-split) of each of the existing equity share of face value of Rs 10 each, into 5 equity shares of face value of Rs 2, i.e, a stock split of 1:5. The company rationale behind the stock split is that it wants to enhance liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors.   

On January 03, 2023, the company stated that it had signed a service agreement and business correspondent agreement with Jetfinx Services LLP in order to provide retail lending services. The company is in the process of expanding and diversifying its business operations by entering into retail lending services.   

Comfort Fincap Limited is an NBFC which is primarily focused in providing inter corporate loans, personal loans, loans against shares & securities, loans against properties, mortgage loans, etc. The company has positioned itself between the organized banking sector and local money lenders, offering the customers competitive, flexible and timely lending services.   

The stock has witnessed heavy buying as it has given multibagger returns of more than 160 per cent in just 1 year and more than 90 per cent in just 6 months. Keep a close eye this trending stock.