Wed. Jun 19th, 2024

Back-to-back UPPER CIRCUIT: Share price under Rs 200! NBFC stock up 25% in 3 days

By Mahesh Limbani Jun 11, 2024 #Share price
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Shares NBFC Mufin Green Finance on Monday zoomed 10 per cent to hit the upper circuit for second consecutive session.

Mufin Green Finance Share Price

Shares NBFC Mufin Green Finance on Monday zoomed 10 per cent to hit the upper circuit for second consecutive session. The stock opened sharply higher at Rs 129 apiece on NSE versus the previous close of Rs 119.40. It hit the day’s upper price band at Rs 131.34, following which trading in the counter was halted.

As many 3.37 lakh equities of the company changed hands during Monday’s trading session. The stock was locked at the upper circuit during Friday’s session as well.

The EV financing stock is gaining for the last three sessions, yielding a handsome return of 25 per cent.

Mufin Green Finance Ratings Upgrade

Today’s rally in the counter was propelled by credit ratings upgrade by Acuite Ratings & Research — a credit rating agency, registered with the Securities and Exchange Board of India (SEBI). According to a regulatory filing, the agency has upgraded the ratings awarded to Mufin Green on bank facilities, NCDs and Bonds at BBB+ | Stable from BBB | Stable.

The NBFC has taken term loan of Rs 270 crore from State Bank of India, IREDA, ICICI Bank, Yes Bank, AU Small Finance Bank, ESAF Small Finance Bank and Capital Small Finance Bank.

Mufin Green Finance is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries.

Mufin Green Share Price History

According to BSE analytics as on June 10, its shares have delivered a multibagger return of 211 per cent in just one year. In two years, the stock has rallied a whopping 778 per cent. It has multiplied investors money by more than 2,200 per cent in the last three years.

Mufin Green in the fourth quarter (Q4 FY2024) reported its its net profit at Rs 4.05 crore, up more than 50 per cent YoY, on account of higher income. The company’s net profit in the same quarter a year ago stood at Rs 2.66 crore.

Mufin Green Finance, which has operations in more than a dozen cities, commands a market cap of Rs 2,020.85 crore.

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