Shares of Paisalo Digital, a non-banking financial company, surged to hit the 20% upper circuit at ₹71 on July 1 after promoters increased their stake to 46.72%, according to livemint.com. This marks a significant rise from the 26% stake held by promoters in fiscal year 2019, reflecting growing confidence in the company’s prospects.
The promoters' stake increase was announced ahead of Wednesday’s trading session, triggering strong buying interest that locked the stock at the upper circuit limit. Paisalo Digital’s shares have maintained a consistent upward trend since March, closing each month in positive territory. The company’s strategy aims to double its assets, income, and profit within three years, which has attracted investor attention and contributed to the stock’s momentum.
This stake increase underscores the promoters’ long-term commitment amid a competitive NBFC sector. Paisalo Digital’s share price rally contrasts with broader market volatility, highlighting investor confidence in its growth plans. The company’s focus on expanding its financial services and asset base positions it alongside other rising NBFCs that have gained market traction recently.
Paisalo Digital’s promoters now hold 46.72% of the company, a substantial increase from 26% in FY19, as confirmed by livemint.com. The stock’s 20% upper circuit on July 1 reflects strong market response to this development.