- NCL Research & Financial Services enters the digital personal loan business.
- Stock surged 50% YTD but traded down today.
- Company under the ASM framework due to high volatility.
Shares of small-cap non-banking financial company (NBFC) 'NCL Research & Financial Services' remained in focus during intraday trade on Wednesday as the company entry into digital personal loan business. The decision was approved by directors, and the same is subject to applicable laws, regulatory approvals, and completion of necessary statutory and corporate formalities.
Share Price History
According to BSE Analytics, the penny stock soared over 50 per cent this year, while it rose 55 per cent in a month. In the last five days, the scrip jumped nearly 3 per cent. In the last five years, the stock jumped over 100 per cent.
Share Price Today: Despite the announcement and bullish momentum in the stock market, the NBFC stock traded in the red. Last seen, the stock was trading at Rs 0.78, down
1.27 per cent or Rs 0.010. The scrip remained volatile, hitting the day's low and high at Rs 0.79 and 0.76, respectively.
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The 14-day Relative Strength Index (RSI) stands at 74.46. Since an RSI above 70 typically signals that an asset is overbought or potentially overvalued, this level warrants caution. Finally, the BSE has placed the stock under the Stage 1 Short-Term Additional Surveillance Measure (ST ASM-1) framework, highlighting the need for increased diligence due to heightened volatility.
Company Eyes To Enter Digital Loan Sector
The company’s proposed digital lending platform will initially focus on a range of products, including digital personal loans, salary-based personal loans, and loans for self-employed professionals. Furthermore, the platform aims to provide consumer finance solutions and other permissible retail lending products as approved from time to time.
Also Read: Stock Market Rebounds In Early Trade On Rise In IT Stocks; Sensex Up 726 Points
Stock Market Today
The domestic equity market traded sharply higher amid broad-based buying. Last seen, Sensex, the 30-share index of BSE, was trading at 77,689.73, up 1.20 per cent or 923.80 points. Nifty50 was quoted at 24,253.75, up 1.12 per cent or 268.40 points.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.