Shares of Paisalo Digital Limited, a small-cap non-banking financial company (NBFC) surged around 9 per cent on Monday even as the benchmark indices Sensex and Nifty declined in early trade on Monday. The counter opened with a gain of 5.25 per cent at Rs 53.50 on the BSE. It surged to hit the intraday high of Rs 57.40 - a gain of around 12.93 per cent from the previous close of Rs 51.20.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Paisalo Digital shares today gained after two days of consecutive falls. The stock surged as the brokerage firm Centrum said that the stock has a potential trend reversal.

"Based on the above rationale, the upside is open for Rs 58 whereas immediate support is at Rs 49.5 levels," it said.

Earlier, the NBFC was in the news as the firm announced raising funds through secured Foreign Currency Convertible Bonds (FCCBs). 

Meanwhile, benchmark indices Sensex and Nifty ended higher on Monday amid buying in blue-chip stocks Reliance Industries, Infosys and HDFC Bank along with a firm trend in the US markets.

Recovering the early lost ground, the BSE benchmark Sensex climbed 445.29 points or 0.56 per cent to settle at 80,248.08. During the day, it hit a high of 80,337.82 and a low of 79,308.95.

The NSE Nifty surged 144.95 points or 0.60 per cent to 24,276.05.

From the 30-share Sensex pack, UltraTech Cement, JSW Steel, Adani Ports, Tech Mahindra, Titan, Maruti, Mahindra & Mahindra, Tata Steel and Reliance Industries were the biggest gainers.

NTPC, Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank and Larsen & Toubro were among the laggards.

"Markets started the week on a positive note, rising over half a per cent despite mixed signals. The session opened weak on disappointing GDP data but saw a recovery as select heavyweight stocks across sectors gained momentum," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.

The BSE midcap jumped 1.05 per cent and smallcap climbed 0.84 per cent.