{"id":116735,"date":"2024-01-04T13:11:26","date_gmt":"2024-01-04T07:41:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=116735"},"modified":"2024-01-04T14:35:17","modified_gmt":"2024-01-04T09:05:17","slug":"microcap-stock-jumps-after-companys-board-plans-to-raise-funds-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/microcap-stock-jumps-after-companys-board-plans-to-raise-funds-check-the-details\/","title":{"rendered":"Microcap stock jumps after company&#8217;s board plans to raise funds; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-925173721\"><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>Shares of this NBFC company jumped around 1 percent in Thursday\u2019s trading session after the company\u2019s board fixed a date for the meeting to raise funds. On a weekly timeframe, the shares were trading above RSI 50.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1790162158\"><!-- 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>With a market capitalisation of Rs. 212 crores, the shares of Mangal Credit and Fincorp Ltd started Thursday\u2019s trading on a higher note at Rs. 111.90 compared to its previous close of Rs. 110. The shares hit a high of Rs. 111.90, gaining around 1 percent and are currently trading at Rs. 110.95 apiece.\u00a0<\/p><p>Such a positive movement in the share price was observed after the company in an exchange filing mentioned that the board of directors meeting is scheduled on Wednesday, 10th January 2024 at the registered office of the company, to consider a proposal for fundraising by way of the issue of equity shares or convertible warrants on a preferential basis, which are subject to the approval of the shareholders of the company.&nbsp;<\/p><p>Coming onto the company\u2019s financial statement, the net interest income(NII) increased by around 53 percent from Rs. 13.03 crores in FY21-22 to Rs. 19.87 crores during FY22-23. In addition, the net profits zoomed by 30 percent from Rs. 6.08 crores to Rs. 7.91 crores during the same timeframe.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3575623816\"><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>According to the annual report published by the company, they have an AUM of Rs. 16,043 lakhs, which comprises MSME Loans of Rs. 109 crores and Gold Loans of Rs. 405 crores. Furthermore, the company is working with Nelito (a subsidiary of DTS Company Japan) to implement LOS and LMS Fincraft systems fully customized to MCFL&#8217;s requirements.&nbsp;<\/p><p>Moreover, the company is also dealing with various digital or technology vendors like Digio, Cibil, Surepass, Iris, NSDL, Razorpay, etc. to extract information from sources and head towards digital SME underwriting.&nbsp;<\/p><p>Headquartered in Mumbai, Mangal Credit and Fincorp Ltd was incorporated in 1981. The company is registered as a Non-Systematically Important Non-deposit-taking NBFC. It has 6 branches in Maharashtra, 2 branches in Gujarat with 1 in Surat and 1 in Rajkot.&nbsp;<\/p><p><strong>Written By Vaibhav Patil<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><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-2726099798\"><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>Shares of this NBFC company jumped around 1 percent in Thursday\u2019s trading session after the company\u2019s board fixed a date for the meeting to raise funds. On a weekly timeframe, the shares were trading above RSI 50.&nbsp; With a market capitalisation of Rs. 212 crores, the shares of Mangal Credit and Fincorp Ltd started Thursday\u2019s [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":69893,"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":[],"class_list":["post-116735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microcap stock jumps after company&#039;s board plans to raise funds; Check the details - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this NBFC company jumped around 1 percent in Thursday\u2019s trading session after the company\u2019s board fixed a date for the meeting to raise funds. 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