Small-cap stock that has surged 50% in one month jumps after Q1 results 2023. Do you own?

livemint.com:

Stock market today: Shares of Arihant Capital Markets have been in uptrend for last one month. The financial stock has risen from ₹38.50 to ₹57.50 apiece levels, logging near 50% upside in this time. However, it seems that there is more steam left in this small-cap stock.

Arihant Capital Markets share price today opened upside and went on to hit intraday high of ₹59.50 apiece on NSE, logging near 6 per cent intraday rise within few minutes of stock market's opening bell today. However, profit booking soon triggered and the small-cap financial stock came down at around ₹57 apiece levels. In Q1FY24 results, Arihant Capital Markets Ltd reported a growth of 23.04% YoY in revenue from operations, which rose from Rs.

3477.87 Lakhs (Q1FY23) to Rs. 4279.23 Lakhs (Q1FY24). PAT jumped 54.28% YoY, from Rs.

744.94 Lakhs (Q1FY23) to Rs. 1157.74 Lakhs (Q1FY24). Client Onboarding: The company has successfully increased its client acquisition rate through a digital-first approach.

By implementing an in-house EKYC portal, it aims to achieve complete automation and a seamless onboarding journey, significantly improving user experience. With ambitious goals, it is confident in achieving exponential growth and aspire to onboard 5 lacs (500,000) new customers. Interest Income: In the quarter ended 30th June FY23, the company's interest income (standalone) amounted to ₹12.29 crore, compared to ₹11.71 crore in Q1, FY 2023.

This further expected to increase continuously out of internal accruals. Merchant banking division highlights: Revenues for Q1 ended 30th June 2023 stood at Rs. 60.37 lacs, as compared to ₹16.96 lacs in Q1, FY 2023, and ₹11.86 lacs in Q1, FY 2022.