The stock of Mufin Green, a Kolkata-based non-banking finance company (NBFC), has been making headlines with its impressive performance in the market. The company’s stock, which has given a remarkable return of 88 per cent in just one year, closed at Rs 129.55 on Friday.
In a recent development, Mufin Green Finance informed in a regulatory filing that it has allotted non-convertible debentures worth up to Rs 24.84 crore on a private placement. The interest rate for these debentures is set at 10.90 per cent, payable annually, with the allotment taking place on May 3.
However, despite the positive news for Mufin Green, the overall market sentiment took a hit on Friday. The BSE Sensex witnessed a sharp decline of 733 points, leading to a loss of investors’ wealth amounting to Rs 2.25 lakh crore. The market capitalization of BSE-listed companies also dropped to Rs 4,06,24,224.49 crore (USD 4.89 trillion).
The broader market saw mixed movements, with some sectors experiencing losses while others managed to gain. Among the major laggards were Larsen & Toubro, Maruti, Bharti Airtel, Nestle, Reliance Industries, JSW Steel, Kotak Mahindra Bank, and UltraTech Cement. On the other hand, Bajaj Finance saw a slight increase, and the Reserve Bank of India (RBI) lifted restrictions on the company for sanctioning and disbursing loans through eCOM and Insta EMI Card.
Overall, the market witnessed a volatile trading session, with investors closely monitoring the developments in both individual stocks and broader market indices.