Prior to being relisted this Friday, this small-cap financial stock last traded on September 6, 2021.
After exiting stage 3 of the GSM framework, Shree Securities shares have been climbing continuously towards new 52 week highs every day with a huge volume. The small-cap stock began trading again on the stock exchange last Friday (29th,September) after getting relisted. At the day of relisting the share price went up by 60% which was the highest change in any of the shares on the day of relisting.
The BSE-listed small-cap stock had its last trade on September 6, 2021, and it finished at 14.85 per share before being voluntarily delisted. This delisting break was necessary for the 28 years old company to start fresh & adapt to the digital era. The company has a broad vision and an aggressive growth strategy for the digital era in the finance industry. The company is accepting all the favors from the Indian government to scale its operations nationwide & acquire customers who can prove their sustainability.
After re-listing on BSE, the small-cap financial company issued the following statement: "Shree Securities intends to relaunch their business in India by introducing a digital money lending and open crowd funding platform designed specifically for small home-based businesses and early-stage startups. Shree Securities is aggressively pursuing the incorporation of international investors and institutions in order to join the European economic zone, where they will discover their true clients. The company's new management and ownership position it on the road to development and sustainability." Shree Securities Ltd. also plans to launch a B2B collateral lending platform where companies can use collateral to fund their day to day business expenses.
The current market value of Shree Securities is Rs 230 crore. Comparing the current share price of Shree Securities to its closing price on the BSE on September 6, 2021, the stock has gained by 100 percent in only 6 trading days.The company management is also planning to come up with new dividend policies for its investors & the reports point out great financial results in the upcoming quarters. The promoter holding remains constant at 30.63% since 2017 & the company has been debt free since Day 1.
In conclusion, it is vital to highlight that the government has provided a great deal of assistance to all NBFCs that have gone digital via favorable laws, and that this business is undervalued in proportion to the imminent economic boom India would see.
Moneycontrol Journalists were not involved in the creation of the article.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
