Upper Circuit Alert: Shares of this NBFC company hit upper circuit on 12th day in a row

Upper Circuit Alert: Benchmark equity indices declined in early trade on Monday but the shares of LKP Finance Ltd. continued to rally and hit the upper circuit on the twelfth day in a row. The counter opened gap up with a gain of 3.83 per cent and soon went on to hit the upper circuit of Rs 231.55 on the BSE. The scrip had closed at Rs 220.55. 

This is the twelfth straight session when this multibagger stock has hit the upper circuit. Shares of the non-banking finance company (NBFC) have been gaining for the last 13 days and have risen over 78 per cent in this period. 

On technical parameters, the stock of LKP Finance Ltd - which now has a market cap of Rs 291 crore - is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The Saint Capital Fund-backed financial stock has given a return of over 78 per cent so far this month. The counter has made the investors richer by around 196 in the last six months. 

According to the shareholding pattern of LKP Finance, Saint Capital Fund, a Mauritius-based foreign institutional investor (FII), holds 2.46 lakh shares of the company. This is around 1.96 per cent of the total paid-up capital of the company.