Profitmart has set a price target of Rs 2,400 apiece in the next 18 months. “We believe that the Share India Securities stock should be purchased at the current price for a price target of around Rs 2400 over the next 18 months,” the brokerage firm said in a report. Earlier, Share India Securities launched its IPO in September 2017. This helped the firm in generating a total of Rs 26.37 crore by selling its shares at Rs 41 each, with a lot size of 3,000 equity shares. Around three years after being listed on the SME platform of BSE, the company transitioned to the mainboard of the exchange in 2020. The company has 10 subsidiaries which roughly contributed 25% to its total revenue and 31% to its profitability as of FY23. A high share of its revenue comes from its proprietary trading desk and broking-related business (>90% as of 4QFY23) and management continues to invest in its core business of broking by acquiring and investing in people and technology. Disclaimer: The article is for informational purposes only and not investment advice.
Share India Securities Stock Hits 52-week High; Brokerage Recommends ‘BUY’ – Check Details
Stock Market News: Shares of Share India Securities hit a fresh 52-week high during the first trading session of the year 2024. The scrip opened at Rs 1860 and surged over 1 per cent to hit an all-time high of Rs 1882.65. The counter had closed at Rs 1860.30 in the last trading session.
Shares of Share India Securities, which has a total market capitalization of Rs 6,100 crore, have delivered a return of 55 per cent in the last one year. The counter has give a positive return of a whopping 975 per cent in the last three-year period. However, the counter lost early gains and was trading at Rs 1837.45 at the time of writing this news. According to brokerage firm Profitmart, the scrip still has the potential to go up and has given a ‘Buy’ call.
