Heavy Buying: Multibagger small-cap jumps over 7 per cent; FIIs bought 6,27,068 & Board to raise funds through the issue of foreign currency-denominated bonds!
The shares of the company saw a spurt in volume by more than 5 times on BSE.
Today, shares of Mufin Green Finance Ltd gained 7.83 per cent to Rs 131.50 per share from its previous closing of Rs 121.95. The stock’s 52-week high of Rs 273.10 while its 52-week low is Rs 35 per share. The stock gave multibagger returns of 200 per cent in just 1 year whereas the BSE Small-Cap Index is up by 53 per cent. The shares of the company saw a spurt in volume by more than 5 times on BSE.
Mufin Green Finance Limited informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, August 13, 2024, inter-alia to consider and approve:
1. Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2024.
2. Raising of funds through the issue of foreign currency-denominated bonds under the framework the External Commercial Borrowings (ECB) or any other eligible instruments through private placement basis or such other permissible mode or combination thereof by the relevant provisions of applicable law and subject to approval of the applicable regulatory authorities.
About the Company
Mufin Green Finance tackles social and environmental issues in India by providing financial solutions, like electric vehicle loans, to underserved communities. This focus on financial inclusion and sustainability goes hand-in-hand with their strong financial performance, boasting a market cap exceeding Rs 1,700 crore and a remarkable 155 per cent three-year compounded annual growth rate in profits.
According to Quarterly Results, the net sales increased by 139 per cent to Rs 32.21 crore and net profit increased by 52.3 per cent to Rs 4.05 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 184 per cent to Rs 97.60 crore and net profit increased by 98 per cent to Rs 16.06 crore in FY24 compared to FY23. In Q1FY25, FIIs bought 6,27,068 shares and increased their stake to 0.49 per cent compared to 0.11 per cent in March 2024.
DSIJ’s 'Tiny Treasure' service recommends researched small-cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
From Rs 6.62 per share to Rs 131.50 per share, the stock gave multibagger returns of 1,886.4 per cent in just 3 years. In the past three years, the company has implemented three corporate actions: a final dividend of Rs 0.2 per share on September 2, 2022, a 2:1 stock split on April 13, 2023, and a 2:1 bonus share issuance on July 02, 2023. These actions have increased the number of outstanding shares and potentially impacted the company's stock price and financial ratios. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Vijay Kedia sold 40,00,000 shares and FIIs & DIIs increase stake in this Anil Ambani-backed Reliance Group infra stock; Scrip gains over 10 per cent!