Top News

Stock Under Rs 100: A smallcap stock backed by State Bank of India (SBI) is in focus as it has sprinted 31 per cent in just one month.

The company had recently announced to raise funds to the tune of Rs Rs 633.53 crore through secured Foreign Currency Convertible Bonds (FCCBs).

The stock under discussion is Paisalo Digital, a constituent of BSE SmallCap index.

During Tuesday's trading session, Paisalo Digital shares opened in the red at Rs 57.28 against the previous close of Rs 57.37. The stock made an intraday high of Rs 59.50, up around 4 per cent.

However, the NBFC stock erased the gains post afternoon amid broad-based selling and traded flat at Rs 57.45 around 2 PM. The stock is trading higher than 20-day, 50-day and 100-day moving averages but lower than 5-day average delivery volume.

The NBFC has informed through filing that a meeting of Operations and Finance Committee of the Board of Directors is scheduled to be held on December 19 to consider and approve allotment of commercial papers through private placement basis. Recently, Paisalo Digital promoter increased stake to 15.3089 per cent from 15.2266 per cent.

Paisalo Digital Share Price Target 2025

Paisalo Digital is a constituent of BSE Smallcap index. Earlier this month, brokerage firm Anand Rathi initiated BUY call on the NBFC stock for a target price of Rs 70.

Paisalo Digital Shareholding

As per the shareholding pattern of Paisalo Digital, promoters own majority stake at 52.38 per cent followed by non-institutional investors (24.22 per cent), insurance companies (11.26 per cent) and FIIs (10.72 per cent). The remaining stake of 1.43 per cent is held by mutual funds.

According to data rooted from trendlyne, SBI owns 1.2 per cent stake in Paisalo Digital while SBI Life has 9.9 per cent of ownership. LIC 1.4 per cent stake in the NBFC.