Penny stock under Re 1: NBFC stock Mangalam Industrial Finance hit the 5% upper circuit at ₹0.97 in trade on Tuesday, December 23. The stock moved higher amid strong buying interest, even as there was no immediate news or corporate announcement from the company, highlighting the speculative nature of the move.
According to data available on BSE, around 420.78 lakh shares changed hands in today's session as of 2.50 pm, significantly higher than the two-week average of 290.40 lakh shares.
This was the second straight day of gains for the stock. The scrip has risen in four of the last five trading sessions on BSE, including today's. On Friday, December 19, the penny stock under Re 1 had ended in the red.
Market participants must note that such sharp moves in penny stocks can be volatile and speculative, and they must exercise caution while dealing in such securities.
Mangalam Industrial Finance share price trend
Looking at the share price trend of Managalam Industrial Finance, the NBFC stock has remained under pressure in the near term. The scrip has fallen 30.22% in a month and nearly 26% in six months.
On both a year-to-date (YTD) and one-year basis, the penny stock is down 68%, as per exchange data.
The NBFC penny stock is only listed on the BSE. It touched a 52-week high of ₹3.30 on December 30, 2024, and reached its 52-week low of ₹0.80 on December 17, 2025. Its market capitalisation stands at ₹138 crore.
Mangalam Industrial Finance rights issue
The NBFC stock had recently undertaken a rights issue of shares to raise funds.
Mangalam Industrial Finance's rights issue had opened for bidding on October 27 and closed on November 14, to raise over ₹48.08 crore. The company approved a rights issue of 48,08,21,750 equity shares priced at Re 1 each.
The issue resulted in Mangalam Industrial Finance’s total outstanding equity shares rising from 96,16,43,500 to 1,44,24,65,250. The proposal received board approval at a meeting held on September 17, 2025.
As per Screener’s financial data, the company has a book value of about ₹0.21 per share, a P/E ratio of roughly 108, an ROE of around 4.25%, and a ROCE close to 6.97%. Its balance sheet indicates that the company is nearly debt-free.
Mangalam Industrial Finance, founded in 1983, is a Kolkata-based NBFC registered with the Reserve Bank of India (RBI). The company provides financing for land, equipment, and buildings, generating income through interest, along with related fees and commissions on its loan portfolio.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
