SG Finserve Ltd. rose 20% in early trade on Tuesday after veteran investor Madhusudan Mullidhar Kela acquired a 1.7% stake in the previous session.
Kela purchased Rs 9.51 lakh of shares at Rs 350.01 per share for Rs 350.01 per share, with BSE totaling Rs 33.3 crore. Meanwhile, Dinesh Pareeekh sold three shares, representing a 0.53% stake for Rs 10.5 trillion.
SG Finserve, which counts ACE investor Ashish Kacholia as its shareholder, is a high-tech, non-banking finance company that provides business finance solutions to channel partners such as dealers, distributors, retailers, buyers, suppliers and transporters. Kacholia holds over 638,000 shares, or 1.14% of the total shares, according to data available on BSE.
Kera is known for his extensive experience in the Indian capital markets. According to Trendlyne, his recent additions include Indostar Capital Finance Ltd., Nazara Technologies Ltd. and Waaree Energies Ltd. It also recently left Choice International Ltd.’s 1.6% stake.
