1,178% return in 2 years: This NBFC stock hits upper circuit for second consecutive session

The company has said in a regulatory filing that it would raise Rs 17.50 crore fund via the issuance of Secured Non-Convertible Debentures on a private placement basis.

Shares of Mufin Green opened at Rs 120.90 to hit the upper circuit of around 5 per cent as soon as the trading began today.

Upper circuit stock: Stocks of Mufin Green Finance Ltd hit the 5 per cent upper circuit for the second consecutive session on December 11 after the company informed stock market exchanges about fundraise.

Shares of Mufin Green opened at Rs 120.90 to hit the upper circuit of around 5 per cent as soon as the trading began today. The scrip had closed at Rs 115.15 in the last trading session.

The company has said in a regulatory filing that it would raise Rs 17.50 crore fund via the issuance of Secured Non-Convertible Debentures on a private placement basis.

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"With reference to our letter dated December 02, 2023 and in terms of Regulations 30 read with Schedule III of the SEBI Listing Regulations, we wish to inform you that the Board of Directors of Company, in its meeting held today i.e. Friday, December 8, 2023, has inter alia, considered and approved the terms and conditions for issuance of 1,750 (one thousand seven hundred fifty) unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees ("INR"), having a face value of INR 100,000 (Indian Rupees One Lakh) each and an aggregate face value of INR 17,50,00,000 (Indian Rupees Seventeen Crore and Fifty Lakh) ("Debentures") on a private placement basis," the company said.

Stocks of the Non-Banking Financial Company (NBFC), which has a market cap of Rs 1.825 crore, have outperformed the sector by 4.86 per cent. On technical parameters, the counter is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The stock has delivered a 1,178 per cent return to its investors in the last two years. In the last three years, Mufin Green Finance shares have made its investors wealthier by 3,563 per cent. However, in YTD time, this share has delivered around 211 per cent return to its shareholders.

Meanwhile, the stock has been witnessing a spurt in trade volume for the past couple of sessions and as a result, has been put under Additional Surveillance Measure (ASM) Stage 1.

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