Shares of this NBFC Company got locked at 10 per cent upper circuit today. Do you own it?

The company’s revenue from operations during December 2022 increased by 395 per cent compared to the corresponding month in the previous year

On Monday, shares of Kreon Financial Services surged and got locked at 10 per cent upper circuit level of Rs 55.90. The scrip witnessed a massive spurt in volume by more than 1.81 times.   

The company informed the exchange, though their press release, their monthly business updates. During the month of December 2022, their division StuCred, witnessed a growth of 275 per cent in terms of loans disbursed against the month December 2021 in the previous year. The company’s revenue from operations during December 2022 increased by 395 per cent compared to the corresponding month in the previous year. Value of disbursements, during December 2022, has recorded a growth of 354 per cent compared to the corresponding month in the previous year.  

Incorporated in 1994, Kreon Finnancial Services Limited is an NBFC which provides investing in long term and short-term projects, securities, debt related instruments, etc. The company is organised into two business segments – commercial lending division which is a non-digital lending arm of Kreon and digital lending division catering to advancement of loans via StuCred platform.   

The company has shown positive traction in the past 1 month as it has given more than 22 per cent returns. Keep a close eye on this trending NBFC company.