Multibagger Stock: Since the beginning of the new year 2022, a good number of stocks have given multibagger returns to their shareholders. However, most of them are X or XT category stocks with low liquidity. KIFS Financial Services is one such Class X stock that has doubled shareholders’ money in just 12 sessions. closed on stock 64.80 each on the BSE on January 5, 2022 while it closed at 133.40 per share level on BSE on January 21, doubling shareholders’ money in just 12 trade sessions.
KIFS Financial Services Share Price History
The NBFC stock remained sideways for the entire 2021. It started an upward move towards the end of 2021. On 31st December 2021, this BSE listed stock closed at 43.50 level. But, with the advent of the new year, there was a tremendous rise in the stock. Last week, it hit the upper circuit of 5 per cent in all 5 trading sessions. It has also affected the upper circuit of 5 per cent in today’s morning deals.
So far, KIFS Financial Services shares have made 52-week highs 140.05 while its 52-week low is . Is 32.55 per share level. The current market capitalization of the company is 151.51 crore and its divided yield is 0.89 per cent.
If we look at the stock price history from the returns point of view, the stock of NBFC has increased from 115.25 At 140.05 level in the last one week, it gave a 21.50 percent return to its shareholders. In the last one month, it has increased from 39.95 to 140.05 levels, registering a growth of about 250 per cent during this period. In year-to-date (YTD) timing, Multibagger stock has delivered a 210 percent return to its shareholders.
BSE seeks clarification from the company on share price hike
The BSE, taking cognizance of the sudden spike in the counter, sought an explanation from the company regarding the rise in its share prices. However, the company responded that the increase in the share price is ‘purely a speculation in the trading of the market.’
In its response to the sudden rise in the stock price, KIFS Financial Services Ltd said, “The volatility of pricing on the stock exchange is not related to the information or decision taken by the company. It appears to be purely a speculation on market trading.” which is not related to the company or its promoters.
The reply further said, “We would like to state that the Company is disseminating and will continue to disseminate necessary information/declarations with the Exchange from time to time as required under Rule 30 (Listing Obligations and Disclosure Requirements) of SEBI Regulations. , 2015 and no notice/announcement is pending for any important event.”
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