The shares of this small-cap stock are trading in the green today after attracting investment from one of the well-known Ace Investors in India. The company has a market capitalization of Rs 5,500 crores.
The stocks of Religare Enterprise Limited opened their trading hour at Rs 166.50 and currently trade at Rs 168.75. The scrip witnessed an intra-day high of Rs 173 indicating a gain of around 5 percent as compared to the previous closing levels of Rs 165 apiece.
Keeping a purview of three years, the scrip has proven to deliver multibagger returns of around 330 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 4.30 Lakhs within a period of three years.
Ace investor Mr. Ashish Dhawan, during the June 2023 quarter, showed interest in the company and bought 53.86 Lakh equity shares equating to a 1.66 percent stake in the company. Currently, the holding value of his investment stands at approximately Rs 91 crores.
Digging into the financials, the basic parameter such as operating revenues shifted from Rs 3,223 crores during FY21-22 to Rs 4,676 crores in FY22-23.
Moreover, the after-tax profits, post the negative results faced for a few years in the past, transitioned from losses of Rs 1,538 crores during FY21-22 to profits of Rs 3,168 crores in FY22-23. Due to changes caused in FY22-23, the net profit margin was reported at a healthy number of 67.75 percent.
Religare Enterprise Limited is a financial services company that offers a wide range of services through its underlying subsidiaries and operating entities, including loans to small and medium-sized enterprises, institutional equities, retail broking, investment banking, wealth management, asset management, life & health insurance.
Written by Amit Madnani
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