5paisa Capital rallies 17% in two days as promoter hikes stake

The stock is locked in the upper circuit of 10% at Rs 223 on Friday, surging 17% in past two trading days, after Nirmal Jain, the promoter of the company hiked his stake through open market.

Shares of 5paisa Capital (5PCL) is locked in the upper circuit of 10% at Rs 223 on Friday, surging 17% in past two trading days, after Nirmal Jain, the promoter of the company hiked his stake through an open market purchase.

On Wednesday, December 26, Nirmal Bhanwarlal Jain had purchased an additional 50,000 equity shares of 5PCL through an open market purchase.

Post transaction, promoters holding in the company increased to 30.4% from 30.01%, according to the disclosure made by company to the stock exchanges.

Meanwhile, Satpal Khattar sold its entire 1.94% stake or 246,861 shares of 5PCL at Rs 190 per share on the BSE, the bulk deal data shows.

The names of the other buyers were not ascertained immediately.

5PCL is a wholly-owned subsidiary of IIFL Holdings is engaged in providing an online technology platform for trading in National Stock Exchange of India (NSE) and BSE through web-based trading terminal mobile application and a state-of-the-art Call and Trade Unit.

It is also a SEBI-approved research analyst, a Depository Participant under CDSL and registered member of AMFI. 5PCL provides a wide range of financial services to its customers including depository services distribution of mutual funds bonds and debentures equity and mutual fund research etc through its technology based platforms.

The stock of 5PCL had corrected 66% from its 52-week high level of Rs 507 touched on May 8, 2018. It hit a 52-week low of Rs 171 on October 24 this year.

Till 10:20 am, a combined 5,601 equity shares changed hands and there were pending buy orders for 12,353 shares on the BSE and NSE.