On the National Stock Exchange (NSE), the counter began the trading session at Rs 35.51 against the previous close of Rs 35.48.
Shares of SBI Life-owned non-banking finance company (NBFC) Paisalo Digital will be in focus as the company stated that it raised Rs 188.5 crore through its listed issue in the third quarter. The started the trading session in the green at Rs 35.58 against the previous close of Rs 35.55 even as benchmark indices Sensex and Nifty declined in early trade, dragged by heavy selling in blue-chips Reliance Industries, HDFC Bank, and worries over fresh warning from the US to further raise tariffs against India. However, it dipped amid selling pressure and traded at day’s low of Rs 35. The market cap of the company stood at Rs 3,183.33 crore.
On the National Stock Exchange (NSE), the counter began the trading session at Rs 35.51 against the previous close of Rs 35.48. It later touched the intraday high of Rs 35.64 and an intraday low of Rs 35.05.
The counter has been losing for the last three days and has fallen 3.4 per cent in the period. Technically, it trades higher than the 200-day moving averages but lower than the 5-day, 20-day, 50-day and 100-day moving averages.
The stock’s 14-day relative strength index (RSI) is 44.31. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
Company to strengthen capital efficiency
The company has raised approximately Rs 188.5 crore at an 8.5 per cent annual interest rate. The company stated that this fundraising reflects the company’s strong credit profile, rigorous risk management, and robust balance sheet.
This issue is expected to reduce Paisalo Digital’s cost of funds, strengthen capital efficiency, and scale growth initiatives.
The company currently operates in 22 states and union territories and plans to further strengthen its network. It is deepening its High Tech-High Touch distribution model and launching new loan products specifically targeted at micro-entrepreneurs, self-employed individuals, and low-income groups who have had limited access to formal financial services.
ALSO READ | India’s demand for office space rises 25%, Bengaluru dominates at city level
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
