500 per cent multibagger returns: Penny stock under Rs 75 hit upper circuit as Board is likely bonus shares on December 20, 2024

The company has a market cap of Rs 27.53 crore and the stock gave multibagger returns of over 500 per cent from its 52-week low is Rs 12.21 per share.

Richfield Financial Services Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Friday, December 20, 2024 through Video Conferencing to transact the following business:

1. To consider the resignation of Ms Priyanka Kalra (PAN: DJHPK3926C) from the post of Company Secretary of the Company
2. To consider the appointment of Mr Nandu Chandra Mohan (PAN: CWPPM3676M) as the Company Secretary of the Company
3. To consider the proposal for declaration and recommendation of bonus equity shares subject to the approval of shareholders of the company
4. To consider the issuance of secured non-convertible debentures on a private placement basis
5. Any other business with the permission of the chair

On Wednesday, shares of Richfield Financial Services Ltd hit a 5 per cent upper circuit to Rs 73.42 per share from its previous closing of Rs 69.93 per share. The stock’s 52-week high is Rs 77.88 per share and its 52-week low is Rs 12.21 per share.

Incorporated in 1992, Richfield Financial Services Ltd (RFSL) is a Non-Banking Finance Company primarily focused on investment activities in shares and securities. RFSL leverages its in-house research and data analysis to guide its investment decisions. Beyond investments, the company offers a range of financial services, including short-term financing options for surplus funds, and a suite of ancillary services such as merchant banking, stock broking, portfolio management, project consultancy, and loan syndication.

The company has a market cap of Rs 27.53 crore and the stock gave multibagger returns of over 500 per cent from its 52-week low is Rs 12.21 per share. Investors should keep an eye on this penny stock.

Disclaimer: The article is for informational purposes only and not investment advice.