Paisalo Digital rose 2.62% to Rs 824.45 on bargain hunting after recent steep losses.
Shares of Paisalo Digital fell 15.06% in the past six trading sessions.On the technical front, the stock's RSI (relative strength index) stood at 38.65. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 898.38, 917.91 and 962.92, respectively.
Paisalo Digital is a non-deposit taking NBFC registered with the Reserve Bank of India. The company primarily extends business loans to SME/corporates and income generation loans to individuals.
The company's consolidated net profit declined 2.69% to Rs 21.36 crore despite a 24.53% rise in sales to Rs 99.44 crore in Q2 FY22 over Q2 FY21.
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