Multibagger stock: NBFC doubles shareholders' money in 12 sessions

Multibagger stock: After ushering in New Year 2022, a good number of shares have given multibagger return to its shareholders. However, most of them are X or XT category stocks with lower liquidity. KIFS Financial Services is one such X category stock that has doubled shareholders money in just 12 sessions. The stock had closed at ₹64.80 apiece levels on BSE on 5th January 2022 whereas it closed at ₹133.40 per share levels on BSE on 21st January, doubling shareholders money in just 12 trade sessions.

KIFS Financial Services share price history

The NBFC share had remained sideways for entire 2021. It started giving upside movement at the end of 2021. On 31st December 2021, this BSE listed stock had closed at 43.50 levels. But, the stock became highly bullish with the arrival of New Year. Last week, it hit 5 per cent upper circuit on all 5 trade sessions. Even today in early morning deals, it has hit 5 per cent upper circuit.

As of now, KIFS Financial Services shares have made 52-week high of ₹140.05 whereas its 52-week low is ₹32.55 per share levels. Company's current market capitalization is ₹151.51 crore and its Divided Yield stands at 0.89 per cent.

If we look at the stock price history from return perspective, the NBFC stock has surged from 115.25 to ₹140.05 apiece levels in last one week, yielding 21.50 per cent to its shareholders. In last one month, it has risen from ₹39.95 to ₹140.05 levels, logging around 250 per cent raise in this period. In year-to-date (YTD) time, the multibagger stock has delivered 210 per cent return to its shareholders.

BSE sought clarification from company on stock price rise

Taking cognizance of sudden upside movement in the counter, BSE sought clarification from the company about its stock price rise. However, the company replied that rise in stock price is 'purely a speculation at market trading.'

In its reply to sudden rise in stock price, KIFS Financial Services Ltd said, "The up/down movement of pricing at stock exchange is nothing related to the information or decision taken by the company. It seems purely a speculation at market trading, which has nothing related to the company or its promoters."

The reply went on to add, "We would like to state that the company has been disseminating and will continue to disseminate with the exchange requisite information / announcements from time to time as required under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and there are no pending information / announcement, to be made; as on date for any material event."