Global Capital Market, a lesser-known multibagger microcap stock, is eyeing expansion of its businesses and is looking to enter bill discount business.
The board of Global Capital Market discussed plans to enter the business while also holding a discussion on expansion in other avenues, the company said in an exchange filing with the BSE.
The non-banking financial company (NBFC) told BSE that the business would be carried either in anchor/shipper led-model or transportation led model. These would be small ticket size loans ranging from Rs 2 lakh to Rs 25 lakh, the NBFC said in the filing.
The board is determined to diversify its loan portfolio and concentrate on retail lending so as to have margin expansion of the funds employed, the NBFC said.
Besides, the company board discussed plans of entering the gold loan business.
Recently, Global Capital Market has also expanded its business activities into the real estate and software solution sector in a bid to diversify business.
Shares of Global Capital Market zoomed 790 per cent in the last seven months from its 52-week low of Rs 3.79 on June 1, 2022. The scrip hit Rs 33.60 on Wednesday. It hit 52-week high of Rs 45 on December 20, 2022.
Incorporated in 1989, Global Capital Markets is a registered NBFC with the Reserve Bank of India (RBI), engaged in the business of investment in shares and securities and providing finance on a short term and long-term basis.
The company invests in securities through its group company, GCM Securities, which is a member of NSE and BSE.
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