Madhuri Madhusudhan Kela buys 50 lakh shares of Niyogin Fintech; stock hits upper circuit

Niyogin Fintech's stock jumped after ace investor Madhusudhan Kela's wife, Madhuri Kela, bought over 50 lakh shares at Rs 61.65 apiece. The stock jumped five per cent and hit the upper circuit at Rs 71.51 apiece in Thursday's trading session on the BSE.

The market capitalisation of the company was Rs 675.34 crore. The scrip has rallied for the fifth straight session and gained over 16 per cent.

As per the BSE bulk deal data, along with Madhuri Kela, Think India Opportunities Master Fund also bought 58,00,000 shares, while WF Asian Reconnaissance Fund Ltd has bought 1,21,69,500 shares.

Other buyers include Mansi Share & Stock Adviser Limited, which bought 5,00,000 shares; Carmignac Portfolio, which bought 5,50,000 shares; and Multiplier Stock & Advisory, which bought 10,00,000 shares.

The company will announce the June quarter numbers on August 9, 2023.

As per Trendlyne's corporate shareholdings filed for June 30, 2023, Madhuri Madhusudan Kela publicly holds six stocks with a net worth of over Rs 241.9 crore.

Niyogin Fintech shares: Past performance

Niyogin Fintech's stock has gained over 94 per cent and outperformed the headline index Nifty, which has risen more than seven per cent. In a year, the stock has surged 100 per cent against the Nifty's rise of over 11 per cent.

About Niyogin Fintech

Niyogin Fintech Ltd is a fintech company and a registered non-banking finance company. The company provides a digital platform that enables access to relevant services and products for MSMEs, providing financial inclusion, credit, investments, and SAAS services.

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