In the year 2020 June, the share price of Magma Fincorp was only Rs 15.30, but now its price has increased to Rs 163. Due to the confidence of the investors, it has remained bullish.
This stock gave strong returns
The stock market is considered full of uncertainty. In this, it is not possible to predict exactly when, which company will become a profitable deal. That is why, despite the company’s financial performance not being much better, its stock has remained bullish for the last one year. It gave a return of more than 900 percent within a year. The name of this share is Magma Fincorp. This non-banking financial company based in Mumbai made investors rich.
Today’s share price of Magma Fincorp is Rs 163. Whereas in June 2020 it was only Rs 15.30 per share. But in the last one year, this company has left behind its rival companies Bajaj Finance and other stocks in terms of returns. The share of Bajaj Finance saw an increase of 129.6 percent in a year. On the other hand, Muthoot Finance also gained 63.27% during the year and Bajaj Holdings share rose only 39.79 percent. Whereas Magma Fincorp has given a return of 919 percent in just one year.
boom since february
The rise in the company’s shares came from February 2021. Then the Board of Directors had approved the issuance of debt securities of Rs 3000 crore for the financial year 2021-22. Since then the investment of investors in Magma Fincorp has increased. Due to this the share prices started rising rapidly. Apart from this, the report claimed that Adar Poonawalla’s company Rising Sun Holdings and two members of the promoter group were ready to buy a controlling stake in the company. In early March, the company’s shareholders had approved Rising Sun Holdings to raise Rs 3,456 crore by issuing preferential equity shares. However, this offer is yet to get regulatory approvals.
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