The shares of Mefcom Capital Markets Ltd (MCM), a micro-cap company gained 4.97% on Monday’s early trades to hit the upper circuit. With this, its shares hit the upper circuit for three days in a row. Its shares were locked at ₹ 127.85 apiece on the Bombay Stock Exchange (BSE) on Monday. 

Mefcom Capital Markets Ltd is engaged in capital market operations and merchant banking activities. It has managed more than 250 IPOs and rights issues and has helped to mobilize more than ₹ 2500 crore in the Indian capital markets. 

The company informed the BSE that its board has announced the sub-division/ split of its equity shares of ₹ 10 each into five equity shares of a face value of ₹ 2 each. Further, it has fixed Friday, December 02, 2022, as the record date for this purpose. The scrip falls under the T+1 settlement type, therefore, its ex-date will fall on the same day as the record date. 

MCM has given multibagger returns of 375.28% in the past six months as its share price increased from ₹ 26.90 to ₹ 127.85 apiece. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares six months ago, the value of their holdings would have been ₹ 4.75 lakhs today! 

The company has a market capitalization of ₹ 111 crores. A total of 24,990 shares changed hands by 11:44 AM on the BSE. It has an ideal return on equity of 19.33% and an ideal debt-to-equity ratio of 0.64. Further, its shares are trading at a price-to-equity ratio (P/E) of 18.49, which is slightly lower than the industry P/E of 20.95, indicating that the stock might be undervalued. 

MCM had reached a 52-week high (and all-time high) of ₹ 175.10 on November 10, 2022. It reached a 52-week low of ₹ 22 on March 09, 2022. 

Written By Simran Bafna 


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