This mid-cap stock gains 4% after reporting Q1 results. On Wednesday stock closed 6.7% below the 52-week high. The volume is maintaining the stock price high and rising, and it is greater than usual compared to the previous day and week and the stock has no short interest.
SBFC Finance Ltd
The company belongs to a mid-cap category with a market capitalisation of Rs. 9,503 Cr. On Wednesday shares of this company closed 3.76% up at Rs. 89.30 on BSE.
According to the company filing, total standalone income grew by 43% YoY from Rs. 160.1 Cr to Rs. 229.9 Cr in Q1 FY24 and the company’s net profit increased by 46% from Rs. 32 Cr in Q1 FY23 to Rs. 46.9 Cr in Q1 FY24 and Net Interest Income stood at Rs. 141 Cr in Q1 FY24. The company reports the same consolidated numbers.
As per the latest shareholding data, Promoters hold 64.02% of which the promoters have not pledged any shares and the Public holds a 35.53% stake in this company.
NBFC Finance Ltd. is a company that offers Secured MSME Loans and Loans against Gold, with the majority of its borrowers being business owners, freelancers, salaried employees, and members of the working class. It has created a PhyGital model that combines technology and genuine in-person service to provide loans that complement its customers’ aspirations.
Written by Sheshadr N
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