- Poonawalla Fincorp has a market cap of Rs 16,087 crore
- The stock has gained 425.19 per cent since January this year
- This stock has given more than 15% return in last one month
Poonawalla Fincorp is a midcap company that offers loans for Cars, Commercial Vehicles, Construction Equipment, Tractors, Used Vehicles and SME Businesses. The company is also in the business of Gold Loan Financing, Housing Finance and General Insurance. It has a market cap of Rs 16,087 crore and is one of the most promising companies in the industry. Last year due to the lockdown imposed due to Corona epidemic, the business of the company was badly affected and the company remained in loss in the last financial year.
However, the company’s management has expressed confidence that their business is doing well and the rise in the company’s shares is proof of this. The stock has gained 425.19 per cent since January this year and has outperformed other companies in its sector. The stock has given more than 15 per cent returns in the last one month. This is the reason why this stock shows great potential in the short to medium term.
Employees’ silver during Corona period, this company gave bonus of more than one crore rupees
6 percent up today
The stock has crossed the 20-DMA and is expected to rise in the near term. The stock gained over 6 per cent today on high volumes. This shows that buyers are interested in this. The stock is moving towards its all-time high which is Rs.220. Its RSI has jumped to 57 which is a sign that the stock has strengthened.
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Its Elder Impulse System is showing signs of acceleration. The Mansfield Relative Strength shows that it has outperformed the broader indices. Clearly this stock has gained momentum. On the back of strong price and volume, it could soon hit an all-time high.
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