{"id":115277,"date":"2023-12-11T13:15:13","date_gmt":"2023-12-11T07:45:13","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=115277"},"modified":"2023-12-11T13:29:08","modified_gmt":"2023-12-11T07:59:08","slug":"veefin-solution-shares-rise-3-6-after-company-incorporated-a-new-subsidiary","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/veefin-solution-shares-rise-3-6-after-company-incorporated-a-new-subsidiary\/","title":{"rendered":"Veefin Solution shares rise 3.6% after company incorporated a new subsidiary"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2004270830\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The share price of the micro-cap stock rose 3.6 percent to its intraday high of Rs 278.70 from its previous close of Rs 268.85 after the company incorporated a new subsidiary company in Maharashtra.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2448859490\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to the filing of Veefin Solution Ltd, the company has incorporated a new subsidiary called \u201cGlobetf Solutions Private Limited\u201d in Maharashtra for Rs. 73,960 which is 73.96 percent of the company.\u00a0<\/p><p>The object of the incorporation of a new subsidiary is to enter the business of software solutions across various fields, including web development, security, animation, GIS, finance, and more. This includes developing, providing, marketing, and distributing these solutions.&nbsp;<\/p><p>Looking at their financial statements, the company&#8217;s net revenue rose by 115 percent from Rs 6.55 in FY22 to Rs 14.08 in FY23. Additionally, their net profit increased by 370 percent from Rs 0.91 in FY22 to Rs 4.28 in FY23.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3373459896\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company has a low debt-to-equity ratio of 0.02 which indicates that it is almost debt-free, a return-on-equity ratio of 16.7 percent, a return on capital employed of 18.5 percent, the company has a good quick ratio of 2.01 and it also has a good current ratio of 2.01.&nbsp;<\/p><p>Veefin Solution Limited is a microcap company with a market capitalization of Rs 576 crores. The share price of the company rose 203 percent since it was listed in July 2023. For example, if an investor invested Rs 1 Lakh in July the current value would be 3.03 lakhs.&nbsp;<\/p><p>The promoters own 39.84 percent of the company, with foreign institutional investors owning 0.05 percent, the general public owning 58.96 percent, and domestic institutional investors owning 1.15 percent.&nbsp;<\/p><p>Veefin, based in Mumbai, reimagines Supply Chain Finance and digital lending through an innovative, agile, and scalable technology platform. They provide white-labeled solutions for customer onboarding, underwriting, transaction management, and collections.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Sriram KV<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-4261207953\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The share price of the micro-cap stock rose 3.6 percent to its intraday high of Rs 278.70 from its previous close of Rs 268.85 after the company incorporated a new subsidiary company in Maharashtra.&nbsp; According to the filing of Veefin Solution Ltd, the company has incorporated a new subsidiary called \u201cGlobetf Solutions Private Limited\u201d in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":97245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[5431,15078],"class_list":["post-115277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates","tag-microcap-stock","tag-veefin-solutions-ltd-latest-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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