98 per cent returns: This multibagger stock broking company crosses Rs 5,000 crore market cap, touches new 52-week high of Rs 506

Choice International Ltd was incorporated in 1993. It is an integrated and diversified financial services group. The stock has seen a huge surge in the past one year and has delivered a return of 94 per cent in a one-year time period, while the benchmark index BSE Sensex has given a return of 18 per cent.

Choice International has achieved a noteworthy milestone by exceeding a market capitalization of Rs 5,000 crore, a figure that has nearly doubled in the last twelve months. The stock has achieved a fresh 52-week high at Rs 506.80, delivering an impressive 94 per cent return over this period. This remarkable success is credited to the implementation of a strong business strategy and asset-light expansion initiatives across India.

The company's legacy broking segment has displayed robust performance, achieving a Q2FY24 revenue of Rs 121.6 crore, reflecting an impressive 117 per cent YoY growth. Choice Broking currently boasts a substantial total client base of 7,68,000 Demat accounts, showing a consistent upward trend. Simultaneously, the Wealth Management and Insurance Broking divisions are actively acquiring new clients and diversifying their service offerings. The relatively recent addition to the group, the NBFC business, has demonstrated strong growth over the past year, with a continuous emphasis on expanding the retail loan book. Furthermore, the Advisory business, operating under Choice Consultancy, has consistently secured more orders and currently maintains an order book value of Rs 545 crore

The company's growth has been supported by ongoing expansion into Tier II cities and beyond, coupled with the cross-selling of services to existing clients. With a focus on leveraging robust in-house technological capabilities, the company follows a technology-driven business model to efficiently serve its customers. The amalgamation of strong performance, strategic initiatives, and a steady growth trajectory has led to the company achieving the significant milestone of surpassing a market capitalization of Rs 5,000 crore

The scrip opened today at Rs 493.65 and reached the day's high and low of Rs 506.80 and Rs 490.75, respectively. The stock has reached a fresh 52-week high today which stood at Rs 506.80, whereas its 52-week low was Rs 247.80. The current market cap of the company is Rs 5,010 crore. The Promoters are holding a 59.27 per cent stake in the company whereas the Institutional and non-institutional holdings are 15.48 per cent and 28.26 per cent, respectively.

Established in 1993, Choice International Ltd is a comprehensive and diversified financial services group. The company offers an extensive array of financial services, encompassing Broking and distribution, Investment Banking, Business Advisory, Regulatory Compliances for Government authorities and corporate entities, Retail loan distribution, Mutual Fund distribution, technical services, and various ancillary services. The registered office of the company is located in Mumbai.

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