Shares of KFin Technologies (KFin Tech) surged over 8 percent in intra-day deals to a new high of ₹763.40 on Tuesday, April 30, after the firm posted better-than-expected results for the March quarter of FY24 (Q4FY24).
KFin Technologies: Ventura Securities initiated coverage on this stock, saying the company is showcasing a compelling investment opportunity, supported by significant growth in its domestic investor solution sector.
The floor price set for the sale is Rs 490, a discount of 8% to the current market price. On Thursday, shares of the company ended 5.6% higher on the National Stock Exchange at Rs 531.80. The offer size is around Rs 515-833 crore, with 90 days of lock-in, and IIFL Securities is the broker to the deal, ETNow reported.
For the quarter ended September, KFin Tech reported 28 percent YoY jump in consolidated net profit at Rs 61.4 crore. The company’s revenue from operations grew 16 percent YoY to Rs 209 crore in Q2FY24 from Rs 180 crore in Q2FY23.
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