5paisa Capital hits 10% UC

5Paisa Capital is one volatile stock. Ten days ago, it was locked at the 5% LC and today, it was locked at the 5% UC at Rs.279.30 the moment it opened for trading. In fact for the past 8-9 days, it has been hitting the 5% UC every day.

The market is enthused only because the company has managed to bring down the losses for Q3FY19.

The company which provides financial products through its online technology platform and mobile applications, posted a consolidated loss of Rs.3.5 crore for Q3FY19 v/s loss of Rs.7 crore (QoQ) and loss of Rs.7 crore (YoY). Basically, it remains loss making but the market needs a reason to celebrate so this narrowing of loss is good enough as of now!

The company’s topline rose 49% (QoQ) and up 252% (YoY) at Rs.5 crore.

Being an IIFL promoted company, the fancy for the stock on the bourses is pretty high.