2 weeks Ago
Niyogin Fintech shares will be in focus on Wednesday after Morgan Stanley acquired over 6.7 lakh shares of the company for Rs 3.74 crore via a block deal on Tuesday.
The stock was purchased at a price of Rs 55.65 per share. The seller in the deal was Think India Opportunities Master Fund LP, which sold the same number of shares.
The fund held 87,24,344 shares in the company as of September 30, 2024, representing a 9.17% stake. Also Read: Adani companies' outlook revised to negative On Tuesday, the stock surged 15% to hit a high of Rs 63.
60 before closing at Rs 62.20. Niyogin Fintech has a market capitalization of Rs 591.
87 crore. The company began by building a leading 'Neobank' platform infrastructure to serve MSMEs with credit-related requirements, financial inclusion, investments, and SaaS services. Stock Trading Commodity Markets Made Easy: Commodity Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.
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The underperformance contrasts with the S&P BSE Sensex, which has delivered a 21% return over the last 12 months. Also Read: NTPC Green IPO shares to debut today. Check GMP The stock has been on a downward trajectory since reaching its 52-week high of Rs 98.
It hit a 52-week low of Rs 45 in October this year. The correction has dragged the stock below its 200-day simple moving average (SMA) of Rs 66, although it is still trading above its 50-day SMA of Rs 53. Despite the correction, the stock is trading in an overbought zone, with an MFI of 87, as reported by Trendlyne.
It has also been quite volatile, with a 1-year beta of 1.1. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own.
These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
