Shares of smallcap non-banking financial company Paisalo Digital is in focus as the company has shared a key credit rating update. In its latest exchange filing, the company stated that Infomerics Analytics and Research Private Limited has reaffirmed and assigned new ratings for its borrowing instruments, reflecting its strong financial position. The IVR AA/Stable rating on the company’s long-term bank facilities of Rs 4,500 crore and non-convertible debentures (NCDs) worth Rs 559 crore has been reaffirmed. Additionally, the same IVR AA/Stable rating has been assigned to new NCDs amounting to Rs 1,500 crore.
The IVR A1+ rating for commercial paper (CP) worth Rs 540 crore has also been reaffirmed. According to the company, these ratings underline its robust financial health and its ability to meet debt obligations on time.
Stock Performance
At the time of writing, the company’s stock was trading at Rs 34.31 on the BSE, up 1.66 per cent or Rs 0.56. The market cap of the company stood at Rs 3,095.10 crore.
Technically, the stock trades higher than the 20-day moving averages but lower than the 5-day, 50-day, 100-day and 200-day moving averages.
Brokerage firm Evaluate Research has recently issued a ‘buy’ call on the stock, projecting a potential upside of 115 per cent. The report sets a target price of Rs 75, based on a current market price of Rs 34.21.
Relative strength index
The stock’s 14-day relative strength index (RSI) is 47.3. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Meanwhile, equity benchmark indices surged in early trade on Wednesday, tracking a sharp rally in global markets amid hopes of a potential de-escalation in the ongoing West Asia conflict.
The BSE Sensex jumped 1,899.53 points to 73,847.08, while the NSE Nifty surged 572.55 points to 22,903.95.
In Asian markets, South Korea’s Kospi rose nearly 7 per cent, while Japan’s Nikkei 225 climbed over 4 per cent. Shanghai’s SSE Composite and Hong Kong’s Hang Seng index also traded significantly higher.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
