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SG Finserve shares experienced a remarkable surge of 20% earlier this week, reaching ₹432.6 after veteran investor Madhusudan Murlidhar Kela acquired a significant stake in the company.
The Indian financial market witnessed a notable uptick in SG Finserve shares on Tuesday, soaring 20% to ₹432.6. This surge follows veteran investor Madhusudan Murlidhar Kela’s acquisition of 9.51 lakh shares, amounting to a 1.7% stake at ₹350.01 per share via a bulk deal on the Bombay Stock Exchange (BSE) on Monday. Concurrently, Dinesh Pareekh sold off 3 lakh shares, representing a 0.53% stake, also at ₹350 per share. SG Finserve, a tech-enabled, RBI-registered non-banking financial company (NBFC), specializes in providing business financing solutions to various channel partners including dealers and retailers.
Investor Insights and Stake Changes
Following the recent trading activity, key highlights include:
- Madhusudan Kela’s stake acquisition has bolstered investor confidence.
- Dinesh Pareekh’s offloading of shares signals potential shifts in ownership.
- Ace investor Ashish Kacholia holds a 1.14% stake in SG Finserve as of December 2024.
CRISIL Ratings Update
SG Finserve announced that CRISIL Ratings Limited has finalized certain bank loan facility ratings, upgrading them from provisional to final. The rating agency assigned a CRISIL AA (CE)/Positive rating, enhancing the company’s credibility in the financial market.
As of now, SG Finserve shares have several technical indicators worth noting:
- The Relative Strength Index (RSI) is at 57.1, indicating neutral trading conditions.
- The MACD, at -7, suggests bearish signals.
- Shares are trading above their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMA), indicating a strong upward trend.
Recent Performance Overview
As of 10:01 a.m. on Tuesday, SG Finserve was trading at ₹414.6, reflecting a 15% increase, while the benchmark Sensex gained 0.7%. Despite this recent spike, the stock has seen declines of:
- 18% in the last six months
- 15% over the past two years
- 1.58% in the last 12 months, but it has gained 1.69% year to date.
The company’s market capitalization now stands at ₹2,320 crore.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own and do not represent the views of The Economic Times.)
Conclusion
The recent spike in SG Finserve shares following Kela’s investment highlights the dynamic nature of the Indian stock market and emphasizes the influence of veteran investors on market trends. Analysts and investors alike will be watching the market closely for further developments as SG Finserve continues to establish itself in the financial sector.
Keywords: SG Finserve shares, Madhusudan Kela, stock market news, CRISIL ratings, investment trends, Indian financial market
Hashtags: #SGFinserve #StockMarket #Investing #FinanceNews #NBFC
