Small-cap stock under ₹50: Continental Securities share price rallied as much as 5% on BSE in Wednesday's trading session despite weak trends in the Indian stock market.
Continental Securities shares opened at ₹21.60 per share today, as compared to previous close of ₹21.71 on Tuesday. The stock touched an intraday high of ₹22.79 on Wednesday. The market capitalisation of Continental Securities stood at ₹72 crore, as of 3:10 pm.
Meanwhile, Indian benchmark indices Sensex and Nifty came under heavy selling pressure in early trade on Wednesday. The 30-share BSE Sensex plunged 500.25 points to 75,060.61 in early trading, while the 50-share NSE Nifty fell 129.40 points to 23,506.10.
In a press release on 9 September, the company said that it is accelerating its growth strategy by expanding its Gold Loan and Mutual Fund businesses, opening additional branches across Jaipur and raising fresh capital to fund the proposed expansion.
As part of its latest strategic plan, the company aims to grow its existing Gold Loan portfolio and scale up lending operations while simultaneously expanding its Mutual Fund business. It also plans to establish more branches and business locations in Jaipur, Rajasthan, thereby creating a broader customer-facing network for lending and investment-distribution services.