Smallcap stock hits 20% upper circuit after Madhusudan Kela buys 1.7% stake
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SG Finserve shares surged 20% to hit the upper circuit at Rs 432.6 in Tuesday's trade after veteran investor Madhusudan Murlidhar Kela acquired 9.51 lakh shares, or a 1.7% stake, at Rs 350.01 per share in a bulk deal on the BSE on Monday. 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. Live Events SG Finserv...