1,025% return in 3 years: Share India Securities stock hits 52-week high - Buy, Sell or Hold?

Shares of Share India Securities hit a fresh 52-week high on Monday i.e. January 1, 2024. The scrip opened at Rs 1860 and surged around 1.12 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. 

However, the counter lost early gains and was trading at Rs 1837.45 at the time of writing this news. 

In the last one year, the counter has gained around 65.40 per cent. According to brokerage firm Profitmart, the scrip still has the potential to go up and has given a 'Buy' call. 

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.

Established in 1994, the company has diversified its businesses and created more verticals of growth by venturing into NBFC, insurance broking, wealth management, and merchant banking.