KFin Technologies is a bright star today, figuring among the top five gainers since the morning. The stock opened almost 2% higher at Rs.1072 and rose to an intraday high at Rs.1145, up more than 8.5% at Rs.1145. Its 52-week high is at Rs.1640.

The company reported a 57% (YoY) increase in net profit at Rs.68 crore on a 31% rise in revenue from operations at Rs.238 crore.

Additionally, KFin Technologies secured significant contracts, including a data lake contract from a major asset management company and agreements with two AMC clients and AMFI for digital asset development.

The company's Average Assets Under Management (AAUM) grew by 41%, surpassing the industry growth rate of 36.9%.

This apart, the Board approved the acquisition of a 51% stake in Ascent Fund Services (Singapore) Pte. Ltd. for $34.68 million. It plans to acquire the remaining 49% stake over five years. The move expands KFin's global presence in fund administration across 18 countries. Ascent Fund has been operating since 2019.

During the IPO in Dec’2022, General Atlantic held a 74.94% stake in KFin Technologies through its affiliate, General Atlantic Singapore Fund Pte Ltd. After gradual stake sale, it now holds 32.23%.  The stock had got listed at Rs.367 and along with General Atlantic, all those who held stake have obviously made a killing.