Zaggle Prepaid shares hit upper circuit of 5%, mcap nears Rs 7,000 crore  

Shares of Zaggle Prepaid Ocean Services hit their record high today after the firm said it has entered into an agreement with HDFC Bank Limited (HDFC). The stock ended at the upper circuit of Rs 551.10, rising 4.99% to the previous close of Rs 524.90 on BSE today. Zaggle stock opened higher at Rs 525 on BSE. Zaggle’s market cap rose to Rs 6769 crore. Total 1.24 lakh shares changed hands amounting to a turnover of Rs 6.71 crore on BSE.

In terms of technicals, the relative strength index (RSI) of Zaggle stands at 73.9, signaling it's trading in the overbought zone. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 150 day moving averages.

Under the agreement, HDFC Credit cards bundled with Zaggle
Software will be offered to corporate customers across industries.

The agreement is to be executed in three years. 

The stock has risen 153 per cent this year and gained 133.76% in a year.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that Zaggle Prepaid Ocean Services Limited (Zaggle), has entered into an agreement with HDFC Bank Limited (HDFC," said the firm.  

Zaggle Prepaid Ocean Services, incorporated in 2011, provides fintech products and services to manage corporate business expenses through automated and innovative workflows. It had seven offices across the country with more than 1,750 customers, and over 1.7 million end users as of March 31, 2023.