Smallcap stock hits 20% upper circuit after Madhusudan Kela buys 1.7% stake

Meanwhile, Dinesh Pareekh offloaded 3 lakh shares, representing a 0.53% stake, at Rs 350 per share.

Apart from Kela, ace investor Ashish Kacholia held a 1.14% stake in the company as of the December 2024 quarter.

SG Finserve is a tech-enabled, RBI-registered non-banking financial company (NBFC) that provides business financing solutions to channel partners, including dealers, distributors, retailers, buyers, suppliers, and transporters.

The company also announced that CRISIL Ratings Limited has converted certain bank loan facility ratings from provisional to final, while reaffirming ratings for other facilities. CRISIL AA (CE)/Positive has now been assigned as the final rating.

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Technically, the stock’s relative strength index (RSI) is at 57.1. According to Trendlyne, an RSI below 30 is considered oversold, while above 70 indicates overbought conditions. Additionally, the MACD is at -7, which is below its center line, indicating a bearish signal.SG Finserve 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 (SMAs).Also Read: Bitcoin and the psychology of wealth: Robert Kiyosaki on why most people stay poor

At 10:01 a.m., SG Finserve was trading 15% higher at Rs 414.6 on the BSE, while the benchmark Sensex gained 0.7%. The stock has declined 18% in the last six months and 15% over the past two years.

The stock has also fallen 1.58% in the last 12 months but gained 1.69% on a year-to-date basis. The company’s market capitalization stands at Rs 2,320 crore.

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