In the Indian stock market, Indian people have a lot of hope in the penny share, which is currently running at Rs 12, and people are very interested in buying it. It is expected that it will reach Rs 100 in 2 to 3 days. If you also have Rs 1000, then invest in this penny stock today.
Let us know which is the penny share that people are buying.
Shares of the company have now risen by more than 107 percent from the 52-week low level of Rs 6.24 in December 2023 to Rs 12.93. Minolta Finance shares have gained more than 21 percent in the first three sessions of December, while they were up 15 percent in November and 6.5 percent in October.
There has been a tremendous rise in shares of Minolta Finance. On Thursday, December 5, the company’s shares touched the upper circuit limit of 5 percent, and their price reached Rs 12.93, which is a 52-week high level.
The reason for this rally is the approval of stock splits and rights issues by the company’s board, the aim of which is to increase liquidity and raise funds. This is the sixth consecutive session when the shares have touched the upper circuit, indicating strong interest from investors.
This penny stock has gained 88 percent so far in 2024, making it a multibagger. In the last year, it has seen a growth of 76 percent, which shows its continuous growth.
Minolta Finance has given excellent returns even in the long term. This stock has seen a jump of 443 percent in the last three years. It has increased from Rs 2.38 in December 2021 to Rs 12.93 now. This excellent performance clearly shows that investors have strong confidence in the company’s strategies and future growth.
The board of Minolta Finance has approved the stock split, under which the face value of each share will be reduced from Rs 10 to. After this 1:10 stock split, each share will be divided into 10 parts, and the face value of each part will be.
Apart from this, the company has also approved an increase in its authorized share capital. This capital will now increase from Rs 10.2 crore to Rs 60 crore, of which 6 crore will be equity shares. This change will require an amendment to the company’s memorandum of association, which will be implemented after shareholders’ approval.
The company believes that the stock split will improve the liquidity of shares and make it easier for small investors to buy shares. Minolta Finance estimates that this stock split will be completed within three months of the board’s decision.
Additionally, the board has also planned to raise up to Rs 50 crore through a rights issue. This fundraising initiative will offer equity shares to eligible shareholders, the record date of which will be announced later. The rights issue will be implemented under SEBI regulations.
Minolta Finance was established in 1993 and is a non-banking financial company (NBFC), registered with the Reserve Bank of India. The company is listed on Bombay, Kolkata, and Guwahati stock exchanges and engages in a variety of financial activities, including inter-corporate deposits, share trading, leasing, lending to corporate and general customers, and investing in the capital markets.
