The company received approval for listing on the National Stock Exchange of India, and it has also issued preferential shares in the form of warrants and a bonus issue to its shareholders.
Stock Market News: The shares of Mufin Green Finance rose 5 percent on a tear. With this, the shares of the company achieved an intraday high and a 52-week peak of Rs 146.80, significantly above its previous close of Rs 139.85. The shares of the company saw a growth in volume by more than 10 times on BSE.
This rise in the share marks an impressive growth of the stock’s recent winning streak, having notched consecutive 52-week highs in recent sessions.
Mufin Green Finance is one of the high-growth companies which has a track record of high profitability. Notably,
Here are some of the key updates:
- Mufin Green Finance’s trading volume on the BSE witnessed a phenomenal rise, exceeding its usual levels by over tenfold.
- The rise in the trading volume suggested strong investor confidence and momentum behind the rally.
- The stock gave multibagger returns of 235 per cent in just 1 year; 1,300 per cent returns in 2 years and a whopping 4,000 per cent returns in 3 years.
- Earlier, the company considered and approved the terms and conditions for issuance of 1,750 unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees (INR).
- The company has a face value of Rs 1,00,000 each and an aggregate face value of Rs 17,50,00,000 on a private placement basis. Coupon/Interest offered: 13 per cent.
The net sales increased by 221 per cent to Rs 21.13 crore, operating profit increased by 296 per cent to Rs 14.27 crore and net profit increased by 98 per cent to Rs 4.01 crore in Q2FY24 compared to Q2FY23.
Half-yearly Results: The net sales increased by 254 per cent to Rs 38.65 crore, operating profit increased by 351 per cent to Rs 25.29 crore and net profit increased by 135 per cent to Rs 7.46 crore in H1FY24 compared to H1FY23.
Disclaimer: The article is for informational purposes only and not investment advice.