{"id":118336,"date":"2024-01-31T15:40:23","date_gmt":"2024-01-31T10:10:23","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=118336"},"modified":"2024-01-31T16:30:08","modified_gmt":"2024-01-31T11:00:08","slug":"multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client\/","title":{"rendered":"Multibagger IT stock hits 5% upper circuit after it onboards Metalbook as its client"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2506038274\"><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 fintech company clocked 5 percent upper circuit in Wednesday\u2019s trading session after onboarding India\u2019s Fastest Growing Metal Marketplace. In six months, the shares have delivered a multibagger return of 154 percent to its shareholders.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2320522579\"><!-- 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. 714 crores, the shares of Veefin Solutions Ltd started Wednesday\u2019s trading session on a higher note at Rs. 326.80 compared to its previous close of Rs.321.10. During the trading, session the shares clocked 5 percent upper circuit at Rs. 337.15 apiece.&nbsp;<\/p><p>Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had recently added Metalbook as its client. Metalbook is India\u2019s full-stack tech-enabled player in the metal industry by streamlining the processes of buying, selling, customizing and recycling metals.&nbsp;<\/p><p>Furthermore, the company mentioned that they have embedded its cutting-edge Supply Chain Finance platform into Metalbook&#8217;s extensive network of metal suppliers and buyers, which allows Metalbook to offer financing to its network from hundreds of lenders in the country, eliminating the need for cumbersome one-on-one integrations with each lender, which can lead to saving of significant resources.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3813852137\"><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>Looking at the company\u2019s financial statement, the revenue zoomed by 115 percent from Rs. 6.5 crores during FY21-22 to Rs. 14.08 crores in FY22-23. On the other hand, the net profits magnified from Rs. 91 lakhs to Rs. 4.28 crores during the same period.&nbsp;<\/p><p>Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 9.67 percent during FY 21-22 to 16.01 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 7.16 percent to 18.37 percent during the same timeframe. Furthermore, the net profit margin increased from 13.89 percent during FY21-22 to 30.40 percent during FY22-23.&nbsp;<\/p><p>Headquartered in Mumbai, Veefin Solutions was incorporated in 2020. The company is one of the leading financial products and digital solutions providers that offer innovative solutions in the areas of Supply Chain Finance and Digital Lending. The company specializes in software for supply chain finance and has a diverse clientele, including banks, financial institutions, fintech firms, B2B marketplaces, and large corporates&nbsp;<\/p><p><strong>Written By Vaibhav Patil&nbsp;<\/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-4227800210\"><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 fintech company clocked 5 percent upper circuit in Wednesday\u2019s trading session after onboarding India\u2019s Fastest Growing Metal Marketplace. In six months, the shares have delivered a multibagger return of 154 percent to its shareholders.&nbsp; With a market capitalisation of Rs. 714 crores, the shares of Veefin Solutions Ltd started Wednesday\u2019s trading session [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":111982,"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-118336","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>Multibagger IT stock hits 5% upper circuit after it onboards Metalbook as its client - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this fintech company clocked 5 percent upper circuit in Wednesday\u2019s trading session after onboarding India\u2019s Fastest Growing Metal Marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Multibagger IT stock hits 5% upper circuit after it onboards Metalbook as its client\" \/>\n<meta property=\"og:description\" content=\"Shares of this fintech company clocked 5 percent upper circuit in Wednesday\u2019s trading session after onboarding India\u2019s Fastest Growing Metal Marketplace.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T10:10:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T11:00:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/10\/IT-sector.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client\/\",\"url\":\"https:\/\/tradebrains.in\/features\/multibagger-it-stock-hits-5-upper-circuit-after-it-onboards-metalbook-as-its-client\/\",\"name\":\"Multibagger IT stock hits 5% upper circuit after it onboards Metalbook as its client - 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