Multibagger stock: 5000% returns in 5-year! Small-cap NBFC stock jumps on fundraise buzz; more steam left? | Stock Market News
Multibagger stock: Mufin Green Finance shares are one of the multibagger stocks that the Indian stock market has delivered in the post-COVID rebound. The NBFC stock has risen more than 5,000 per cent in the last five years. However, the small-cap stock will be in focus when the Indian stock market opens on Monday. The company has declared fundraise via NCDs. They declared the board approval for raising funds on Friday ahead of the Closing Bell, which triggered value buying in the multibagger stock. The small-cap stock ended around 2 per cent higher against its previous close price while it registered around 3.50 per cent rise against its intraday low on Friday, after climbing to the intraday high of ₹125 apiece.
Mufin Green Finance news
The small-cap multibagger stock informed the Indian stock market exchanges about the board approval to fundraise, saying, “We would like to inform you that the Committee of the Board of Directors of the Company at its meeting held today, i.e., Friday, November 29, 2024, has inter-alia considered and approved raising of funds through issue of rated, unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees through private placement basis for amount up to INR 15,00,00,000 in accordance with the relevant provisions of applicable law and subject to approval of the applicable regulatory authorities.”
Mufin Green Finance share price outlook
Speaking on the outlook for Mufin Green Finance shares, Sumeet Bagadia, Executive Director at Choice Broking, said, “The multibagger stock is in the ₹105 to ₹140 range. However, the stock looks positive and sideways on the chart. One can maintain a buy-on-dips strategy in the stock, maintaining a strict stop loss at ₹105 apiece. On breaking above the ₹140 per share mark, one can expect bullish movement in the stock, while breaking below the ₹105 apiece level may trigger more downside. So, a bullish or bearish trend can be assumed on the breakage of either side of the range.”
Mufin Green Finance share price history
In one month, this small-cap stock delivered 14 per cent returns to its positional investors, while in six months, it gave 9 per cent returns. In 2024, the NBFC stock remained in base-building mode, but for long-term investors, it was one of the wealth creator stocks for its shareholders. In the last five years, this multibagger stock has risen from 2.40 to ₹124.05 apiece on the BSE, delivering over 5,000 per cent return to its long-term investors.
This multibagger stock is available for trade on both NSE and the BSE. It ended on Friday with a trading volume of 1,11,651 on the NSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
