This multibagger stock makes new 52-week high; rewards investors with 1,400 per cent returns in past 1 year
The domestic benchmark indices, Sensex & Nifty, are trading in an upward trajectory for the last one year. They have cheered the investors by gaining 39.32 per cent & 42.16 per cent, respectively during this period.
The stock, which is in news recently, is Authum Investment & Infrastructure Limited, as the company emerged as a successful bidder regarding the acquisition of Reliance Commercial Finance Limited (RFCL) after the completion of the resolution process in terms of Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 dated June 7, 2019 (RBI Directions).
The lenders have approved the bid of Rs 1,629 crore made by the company to financial creditors, subject to certain terms & conditions. A letter of intent has also been issued by the lead bank (on behalf of RFCL lenders under the ambit of inter-creditor agreement i.e. ICA). The company has also reported strong financial results for the first quarter of FY22.
Authum Investment & Infrastructure Ltd is a registered NBFC, carrying on the business of investment in shares & securities and also, financing activities to achieve the goal of enhancing the value for its stakeholders.
On Monday, the stock of the company has made a fresh 52-week high of Rs 1,453.05 per share. Authum Investment & Infrastructure Limited zoomed 1,438 per cent during the last one year. Meanwhile, on a YTD basis, the stock has gained 750.98 per cent in 2021, so far!