Paisalo Digital stock fell to its lower circuit today after Elara India Opportunities Fund pared its stake in the company to 1.76 percent from 4.37 percent. The sale of 2.6% stake in the firm amounted to 11 lakh shares which were sold via open market transaction.
The stock has fallen after 4 days of consecutive gain. In four sessions, the share had gained 53% after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.
The stock was stuck in lower circuit of Rs 668.95, down 10% in early trade against previous close of Rs 743.25 on BSE. Paisalo Digital share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
There were only sellers and no buyers for the stock on bourses. In one year, the share has gained 52.26% and risen 55.4% since the beginning of this year. In a month, the share has climbed 76%. Market cap of the firm fell to Rs 2,839 crore. Earlier, the share zoomed 53% in four sessions after SBI Life Insurance Company bought a 9 per cent stake in the non-banking finance company via open market.
On December 24, 2020, SBI Life Insurance Company bought 3.8 million equity shares, representing 8.99 per cent equity of Paisalo Digital, for Rs 186 crore via bulk deal on the NSE at Rs 490 per share, exchange data show.