NBFC Stock Hit 5% Upper Circuit, Rally 17% In 5 Sessions: Do You Own?

Shares of Mufin Green Finance ended up in a 5% upper circuit on December 13. The stock was trading at an upper circuit limit of Rs 132.80 a share, climbing 17% over the preceding five sessions. Since Mufin Green Finance notified Indian stock market exchanges last week about a capital raising, its shares have been in the headlines lately. It has notified Indian stock exchanges of a fund raise of Rs 17.50 crore made possible by the private offering of Secured Non-Convertible Debentures.

Mufin Green Finance Financials

Mufin Green Finance reported net revenue of Rs 21.13 Cr on a consolidated basis, down 45.32% YoY from Rs 38.65 Cr in the same period last year. According to the firm, its net profit for the second quarter of the current financial year was Rs 40 Cr, up from Rs 7.45 Cr in Q2FY23. In terms of revenue from operations, the firm recorded Rs 21.13 Cr in Q2FY24, up 220.63% from Rs 6.59 Cr in Q2FY23 on a standalone basis. The company also claimed that its net profit for the quarter was Rs 40 Cr, which is 98% higher than the year-ago quarter when it was Rs 20.20 Cr.

Mufin Green Finance Share Price History

On Wednesday, the shares of Mufin Green Finance were locked in a 5% upper circuit limit at Rs 132.80. The scrip reached a 52-week-high of Rs 136.60 on (07/11/2023) and a 52-week-low of Rs 34.19 on (28/03/2023). The stock price climbed from Rs 43.33 to the current market price in the past year, yielding a multibagger return of 207.41%. The stock price went up from Rs 38.90 to the current market price on a YTD, resulting in a multibagger return of 242.42% in 2023. The stock has produced a multibagger return of 207.27% over the past six months and 6.69% during the past month.