The investors of this stock became wealthy, got a decent return of more than 900% in a year – do you have this stock …

There are many opportunities in the stock market when the performance of the company’s stocks is annoying. One such company is Magma Fincorp. The Mumbai-based non-banking financial company has delivered 919 per cent returns to its investors in just one year.

Magma Fincorp’s share price was Rs 15.30 per share on June 8, 2020, a year ago today. On the BSE on Wednesday, it bounced to Rs 156.25 and closed at Rs 155.80. The company has returned more than 900 per cent in just one year. So if someone had invested Rs 1 lakh in Magma Fincorp’s stock a year ago, they would have Rs 10.21 lakh today.

The Sensex has returned 52.16 per cent over the period. Shares of Magma Fincorp have returned 290.63 percent this year alone. In the last one year, the company has surpassed its rivals in terms of returns. Shares of Bajaj Finance rose 129.6 per cent year-on-year. Muthoot Finance also rose 63.27% in one year and Bajaj Holdings’ shares rose only 39.79%.

But now the question arises as to how the rise in shares of Magma Fincorp came about. It will have to look at the February 2021 report, which claimed that Adar Poonawala’s company was ready to buy a controlling stake in Rising Sun Holdings and two members of the promoter group. In early March, the company’s shareholders allowed Rising Sun Holdings to raise Rs 3,456 crore by issuing preferential equity shares. Rising Star will buy a 60 per cent stake in NBFC through a Rs 3456 crore case deal. However, the offer is awaiting regulatory approval.

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