Shares of non-banking financial company (NBFC) NCL Research & Financial Services are in focus as the company has announced that its board of directors has approved the company’s entry into the digital personal loan business, subject to applicable laws, regulatory approvals, and completion of necessary statutory and corporate formalities. The board has also approved the incorporation of a subsidiary that will develop software to provide fintech services.
“In a significant strategic initiative aimed at expanding its financial services platform, the Board of Directors has approved the Company’s entry into the personal loan business, subject to applicable laws, regulatory approvals, if any, and completion of all necessary statutory and corporate formalities,” the company said in an exchange filing.
Digital lending platform will initially focus on these things
- Digital personal loans
- Salary-based personal loans
- Self-employed professional loans
- Consumer finance solutions
- Other permissible retail lending products as may be approved from time to time
Share price today
The stock opened flat at Rs 0.79 on the BSE but fell to touch the intraday low of Rs 0.76, representing a drop of Rs 0.03 or 3.80 per cent.
It has underperformed the sector by 3.09 per cent and has been losing for the last three days, falling 9.41 per cent in the period.
Technically, the stock is trading higher than the 20-day, 50-day, 100-day and 200-day moving averages but lower than the 5-day moving average.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
The stock’s 14-day relative strength index (RSI) is 74.46. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Share market today
Market benchmark indices Sensex and Nifty rebounded in early trade on Wednesday, led by IT stocks and fresh foreign fund inflows. The 30-share BSE Sensex jumped 726.13 points to 77,471.26. The 50-share NSE Nifty climbed 203.50 points to 24,189.05. Foreign Institutional Investors (FIIs) turned buyers on Tuesday. They bought equities worth Rs 755.33 crore in the previous trade, according to exchange data. Brent crude, the global oil benchmark, traded 4.29 per cent higher at USD 87.70 per barrel.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
