Sunshine Capital share price was locked in at a 5% upper circuit limit of ₹2.21 apiece on BSE Wednesday after the company announced the launch of solar energy finance products. Sunshine Capital is a multibagger penny stock and has rallied over 12% in the past one week.
The Non Banking Financial Company (NBFC), Sunshine Capital announced that its Board of Directors has approved plans to launch financial products focused on financing solar energy adoption.
“These are proposed to be aimed at facilitating the green energy adoption by consumers through accessible and flexible financing options. Our offerings will simplify the process for homeowners to invest in solar panel installations, making green energy solutions more attainable,” Sunshine Capital said in a stock exchange filing on December 3.
With flexible loan solutions, these loan products will enable more individuals to transition to renewable energy sources, thereby reducing their carbon footprint and supporting sustainable living practices, it added.
The company’s board further decided to consolidate all the proposed consumer side offerings, namely Insurance Broking, Mutual Funds Product Distribution, Retail Loans and Solar Financing under a single Brand identity, which will be unveiled soon.
Sunshine Capital share price trend
The multibagger penny stock Sunshine Capital has gained over 8% in one month and surged more than 72% year-to-date (YTD). The small-cap stock has given exceptional returns of 900% in two years and more than 3,000% in the past five years.
The penny stock hit a 52-week high of ₹4.13 apiece on April 15, 2024, and touched a 52-week low of ₹1.22 per share on December 29, 2023.
The volumes traded of Sunshine Capital shares also spiked on Wednesday. Around 53 lakh equity shares of Sunshine Capital changed hands on December 4, as compared with its one week average volume of 26 lakh shares.
Sunshine Capital boasts a market capitalisation of more than ₹1,150 crore.
At 10:50 AM, Sunshine Capital shares were still locked at 5% upper circuit of ₹2.21 apiece on the BSE.
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