Debt-free penny stock below Re 1 hit upper circuit on December 23; Do you own it?
DSIJ Intelligence-1Categories: Mindshare, Trending
The company has a market capitalisation of Rs 138.24 crore and as of September 2025, it is debt-free.
Despite a flat Tuesday for the broader market—with both the BSE and Nifty-50 dipping just over 0.10 per cent - a specific NBFC penny stock drew attention by hitting its 5 per cent Upper Circuit. At Re 0.97 (up from Re 0.93), the stock has experienced a recent surge in liquidity, including a one-year volume peak on the BSE yesterday. It is currently trending toward its 50-day and 200-day moving averages of Rs 1.22 and Rs 1.61, respectively.
Recently, the company successfully concluded its rights issue with a preliminary subscription rate of 95.37 per cent. A key development in this process was the Board’s unanimous approval to include applications for 4,928,728 additional Equity Shares submitted by 34 eligible shareholders who had previously renounced their specific Rights Entitlements. This capital expansion, structured as a 1:2 rights ratio (one new share for every two held) at an aggregate value of Rs 4,900 lakh, significantly altered the company's capital structure. While the total number of equity shares increased, the promoter holding saw a notable dilution, decreasing from 58.41 per cent in September 2025 to 43.96 per cent by December 2025.
The stock name is Mangalam Industrial Finance Ltd (MIFL)
About the Company
Incorporated in 1983, Mangalam Industrial Finance Ltd (MIFL) is a Non-Banking Financial Company (NBFC) that operates as a non-systemically important, non-deposit-taking entity. While its foundational charter permits diverse activities—ranging from industrial financing for machinery and land to the manufacturing of agricultural products like tobacco and jute—the company currently focuses its core operations on the NBFC segment. Today, MIFL specialises in providing various financial solutions, including lending, advancing money for industrial infrastructure, and engaging in the investment and trading of shares and securities.
In Q2FY26, the company reported net sales of Rs 92 lakh and net profit of Rs 41 lakh, whereas in FY25, the company reported net sales of Rs 3.56 crore and net profit of Rs 1.23 crore. The company has a market capitalisation of Rs 138.24 crore and as of September 2025, it is debt-free. The stock is up by 21.3 per cent from its 52-week low of Re 0.80 per share.
Disclaimer: The article is for informational purposes only and not investment advice.