Multibagger stock under Rs 110 hit upper circuit after partnering with 4 companies: Details inside
The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 26.50 per share.
Emerald Finance Limited has strategically expanded its Early-Wage-Access program by forging partnerships with four distinct entities: H.K. Jewels Private Limited, DKS Mobility Services Private Limited, Multicare Services (India) Private Limited, and SP Enterprises. These collaborations are designed to provide employees of these partner companies with instant financial relief by enabling them to access a portion of their earned wages throughout the month rather than waiting for traditional pay cycles.
The core objective of these partnerships is to facilitate seamless access to salary advances, reflecting Emerald Finance's broader vision of serving retail customers with innovative financial solutions. This initiative involves Emerald Finance providing short-term loans to employees, which are then conveniently repaid through automatic salary deductions, streamlining the process for both employees and employers.
Notably, the partnership with Multicare Services (India) Private Limited stands out due to Multicare's extensive client base, which includes prominent corporations like Lupin, Merck, and Tata Steel. This collaboration significantly broadens the reach of Emerald Finance's Early-Wage-Access program, allowing a substantial number of employees across diverse industries to benefit from instant financial flexibility.
About the Company
Emerald Finance Limited, established in 1983, is a New Delhi-based NBFC specializing in micro, small, and medium enterprise financing, as well as retail customer loans. This RBI-registered company generates income through commissions, interest, and dividends. It focuses on existing clients, syndicating large loans through financial institutions and conducting rigorous vetting processes for loans exceeding 5 lakhs, assessing financials, past performance, and promoter credibility.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
On Wednesday, shares of Emerald Finance Ltd hit a 5 per cent upper circuit to Rs 109.55 per share from its previous closing of Rs 104.35 per share. The stock’s 52-week high is Rs 167.65 per share and its 52-week low is Rs 26.50 per share. The company has a market cap of over Rs 300 crore.
In its annual results, the net sales increased by 15.8 per cent to Rs 13.33 crore and net profit increased by 20 per cent to Rs 4.14 crore in FY24 over FY23. The stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 26.50 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.