Multibagger stock below Rs 50: This NBFC stock is into expansion of business!
The stock gave multibagger returns of 526.87 per cent in just 6 months whereas BSE SmallCap gave returns of just 16.41 per cent.
Global Capital Markets Ltd, a Small-Cap company, informed the exchange that it is looking into various other avenues for business expansion.
The company will enter the bills discounting business, which will be either an anchor/shipper-lead model or a transportation-led model. These are small-ticket loans ranging from Rs 2 lakh to Rs 25 lakh. The Board has also discussed financing against gold to small retail borrowers, which can be referred to as a "Gold Loan" business.
Global Capital Markets Ltd is a registered NBFC (Non-Banking Financial Company) and engaged in the business of finance and investments. Besides providing loans, the company also does investing and trading activities in both equity and F&O segment in the Indian capital market.
Talking about the financials, the company reported positive results. The operating profit increased by 86.23 per cent in FY22 compared to FY21. Also, net profit was only Rs 0.48 crore in FY21, it skyrocketed 106.29 per cent to Rs 0.98 crore in FY22.
Today, shares of Global Capital Markets Ltd were trading at Rs 33.60 apiece, up by 2.44 per cent. The stock has a 52-week high of Rs 45 and a 52-week low of Rs 3.79 with a market cap of Rs 80.53 crore. The stock gave multibagger returns of 526.87 per cent in just 6 months whereas BSE SmallCap gave returns of just 16.41 per cent. Investors should keep an eye on this multibagger stock.