Since December 26, the stock of 5paisa Capital has rallied 72% from Rs 191 after Nirmal Bhanwarlal Jain, the promoter of the company had purchased an additional 50,000 equity shares through an open market purchase. In comparison, the S&P BSE Sensex was up 1% during the same period.
Post-transaction, promoters holding in the company increased to 30.4% from 30.01%, according to the disclosure made by the company to the stock exchanges.
Meanwhile, Satpal Khattar sold its entire 1.94% stake or 246,861 shares of 5paisa Capital at Rs 190 per share on BSE, as per the bulk deal data.
The names of the other buyers were not ascertained immediately.
5paisa Capital, an IIFL-backed company, is engaged only in the business of securities broking and distribution of financial products primarily through the internet and mobile applications.
With reference to the significant movement in price, the company on January 2 clarified that there is no information /announcement (including pending announcement) which in our opinion may have a bearing on the price/volume behavior in the scrip.
5paisa Capital had reported a standalone net loss of Rs 12.71 crore in the first half (April-September) of the financial year 2018-19 (FY19). It had posted a net loss of Rs 11.66 crore in the same period last fiscal.
The wholly owned subsidiary of the company namely 5paisa P2P limited (5paisa P2P) has received in-principle approval for registration as NBFC Peer-to-Peer Lending Platform (NBFC-P2P) from Reserve Bank of India (RBI).
“In terms of the said approval, 5paisa P2P is required to set up the systems and processes and to comply with the other terms and conditions within a period of 12 months for obtaining final approval from RBI and commencement of P2P activities”, 5paisa Capital said on October 17, while announcing September quarter results.
The stock hit a 52-week high of Rs 507 on May 8, 2018, and a 52-week low of Rs 171 on October 24, the BSE data showed.
Till 10:56 am, a combined 10,635 equity shares changed hands and there were pending buy orders for 9,000 shares on the BSE and NSE.