Multibagger NBFC engaged in the business of lending, investment activities, and many more hit a 2 percent upper circuit in the day’s trade after it declared a stock split, bonus issue, and preferential issue of upto Rs. 500 Crores.
The shares of Sunshine Capital Limited hit a 2 percent upper circuit at Rs. 142.47 from its previous day’s close price of Rs. 139.68 and its market capitalization is Rs. 186 Crores. It has delivered multi-bagger returns of 602 percent.
The company’s board of directors has approved raising funds in the range of Rs. 413 Crores to Rs. 500 Crores by way of loan. Along with the fundraising it has approved the split of shares of the company where 1 equity share of the company will be divided into 10 equity shares.
Further to the stock split it is going to do a bonus issue of the shares of the company in the ratio of 7:1 where 7 equity shares will be allotted for 1 equity share held in the company.
Sunshine Capital Limited is a non-banking financial company primarily involved in the business of providing finance, making investments, and dealing in securities.
Its revenue from operations grew 0.61 percent from Rs. 7.61 Crore in FY22 to Rs. 7.66 Crore in FY23, accompanied by a loss of Rs. 7.21 Crore to a profit of Rs. 1.79 Crore.
It has reported a return on equity (ROE) of 1.93 percent and a return on capital employed (ROCE) of 1.63 percent, it needs to make better returns on its equity and capital employed as there is no major growth in its profitability.
Written by: Bharath K.S
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