Promoter Bought 14,89,325 Shares: LIC's Portfolio Penny Stock Under Rs 50 In Green After Reporting Positive Quarterly Results
The stock is up by 13 per cent from its 52-week low of Rs 40.40 per share.
On Wednesday, shares of Paisalo Digital Ltd gained 2.84 per cent to Rs 45.63 per share from its previous closing of Rs 44.37 per share. The stock’s 52-week high is Rs 99.63 per share and its 52-week low is Rs 40.40 per share.
Paisalo Digital Limited is a non-deposit-taking NBFC registered with the Reserve Bank of India. It is a thriving listed NBFC with a robust distribution network in rural and semi-urban areas of India. Having serviced over 65 lakh+ customers and 3275 touch points across 22 states in the country, Paisalo is currently at the forefront and a pioneer in seamless credit distribution services and administration of income-generation loans. Paisalo Digital Limited, a leading NBFC, has achieved a remarkable milestone, facilitating over Rs 3,400 crore in transactions within two years while serving a customer base exceeding 59 lakh. This success underscores its commitment to financial inclusion, driven by a strong network of business correspondents and strategic partnerships with major banks like SBI and Bank of India. Paisalo Digital's innovative business correspondent model, coupled with advanced technology and a focus on customer needs, has enabled it to reach underserved regions and provide seamless banking services to India's underbanked population, solidifying its position as a key player in driving financial inclusion across the nation.
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According to the financials, the company has a market cap of over Rs 4,000 crore. In its Quarterly Results and nine-month results, the company reported positive numbers. In Q3FY25, the net sales increased by 11.6 per cent to Rs 203.75 crore and the net profit increased by 10.6 per cent to Rs 62.43 crore compared to Q3FY24 while in 9MFY25, the net sales increased by 24.6 per cent to Rs 577.33 crore and the net profit increased by 8.1 per cent to Rs 153.83 crore compared to 9MFY24.
As of December 2024, SBI Life Insurance Co. Ltd owns a 9.87 per cent stake and Life Insurance Corporation of India (LIC) owns a 1.35 per cent stake. As of December 2024, the company's promoters bought 14,89,325 shares and increased their stake to 52.62 per cent compared to 52.38 per cent in September 2024. The stock is up by 13 per cent from its 52-week low of Rs 40.40 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.