Rs 6 to Rs 280: This NBFC stock turned into a multibagger in three years; fell 14% today

Shares of Authum Investment & Infrastructure Ltd have rallied over 4,600% in the last three years. The multibagger stock, which closed at Rs 5.92 on May 29, 2020 rose to a high of Rs 280 on the BSE today (May 31, 2023). An amount of Rs 1 lakh invested in the shares of Authum Investment three years ago would have turned into Rs 47.29 lakh today. In comparison, Sensex has risen 92.7 per cent during the period. In the current session, the multibagger stock slipped 14.18% to Rs 255.05 on BSE in early trade. Authum Investment stock opened 6.46% lower at Rs 278 today against the previous close of Rs 297.20 on BSE. Sentiment turned weak around the stock after the firm reported its Q4 earnings.

In terms of technicals, the relative strength index (RSI) of the Authum Investment stock stands at 86.1, signaling it's trading in the overbought zone. Authum Investment shares have a beta of 1.5, indicating very high volatility in a year. Authum Investment shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

ALSO READ: Rs 45 to Rs 730: This IT stock turned into a multibagger in three years; hit lower circuit today

The NBFC stock has risen 69% in one year and gained 21.31% since the beginning of this year. The share has climbed 23.03% in a month. Total 0.91 lakh shares of the firm changed hands amounting to a turnover of Rs 2.46 crore on BSE. Market cap of the firm fell to Rs 4585.82 crore on BSE.

Two promoters held 71.47 per cent stake in the firm and 6790 public shareholders owned 28.53 per cent for the quarter ended March 2023. Of these, 6620 public shareholders held 27.85 lakh shares or 1.64% stake with capital up to Rs 2 lakh. Only six shareholders with 4.94% stake held capital above Rs 2 lakh for the quarter ended March 2023.

Financial Performance

In the March 2023 quarter, the firm reported a 6.55% fall in profit to Rs 1937.70 crore against Rs 2073.53 crore profit in the corresponding quarter of previous fiscal. Revenue turned negative at Rs 80.97 crore in the March quarter against Rs 123.69 crore in the March 2022 quarter. Operating profit slipped 8.10% to Rs 1917.64 crore for the quarter ended March 2023 against Rs 2086.64 crore in the corresponding quarter of the previous fiscal.

About the Company

Authum Investment is a registered NBFC carrying on the business of investment in shares and securities and also financing activities.

Also read: Adani Enterprises, Adani Power shares: 5 Adani group stocks defy market weakness, rise up to 3%

Also read: IRCTC shares down 50% from 2021 high; PL sees stock going nowhere