Rakesh Jhunjhunwala’s portfolio multibagger stock hit 52-week high as company announces rights issue & PAT jumps over 100 per cent
The stock gave multibagger returns of 177 per cent from its 52-week low of Rs 45 per share.
Geojit Financial Services Limited is a comprehensive financial services provider offering a range of solutions including online trading platforms, margin funding, and equity research. Their services extend to financial advisory with certified financial planners offering guidance and investor awareness programs. Additionally, they distribute various financial products such as insurance and loans, providing a one-stop shop for diverse financial needs.
According to Quarterly Results, the net sales increased by 64.8 per cent to Rs 181.07 crore, operating profit increased by 97.2 per cent to Rs 75.76 crore and net profit increased by 113.4 per cent to Rs 44.54 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 39.8 per cent to Rs 614.14 crore, operating profit increased by 52.6 per cent to Rs 237.83 crore and net profit increased by 48.5 per cent to Rs 143.22 crore in FY24 compared to FY23.
Additionally, The Board of Directors approved the proposal for fundraising for an amount aggregating up to Rs 2,00,00,00,000 subject to receipt of statutory/regulatory approvals, by way of issue of equity shares on a rights issue basis to the eligible equity shareholders of the company as on the record date. The record date will be determined and notified later and shall be updated on the website of the Company and also shall be disseminated to the Stock Exchanges.
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Today, shares of Geojit Financial Services Limited gained 18.21 per cent to an intraday high of Rs 124.65 per share from its previous closing of Rs 105.45 per share. The stock also made a fresh new 52-week high of Rs 124.65 while its 52-week low is Rs 45. At the closing bell, shares of the company were trading at Rs 121.70, up 15.41 per cent with a spurt in volume by more than 8 times on BSE.
The company has a market cap of over Rs 2,900 crore and has been maintaining a healthy dividend payout of 36.4 per cent. As of March 2024, Rakesh Jhunjhunwala’s portfolio (owned by his wife Rekha Rakesh Jhunjhunwala) owns a 7.29 per cent stake in the company. The shares of the company have a PE of 16x, an ROE of 19 per cent and an ROCE of 21 per cent. The stock gave multibagger returns of 177 per cent from its 52-week low of Rs 45 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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