By Admin 
Penny Stock: Stock market investors often look for penny stocks, which have low prices but have the potential for high returns. One such small-cap stock is TCI Finance, whose shares are witnessing amazing growth. Due to this, this stock has come in the eyes of investors. On Monday, December 22, this NBFC stock closed at the level of upper circuit of 10 percent. With this its price became Rs 19.50 per share.
Fast even after circuit limit
This is the fourth consecutive session when it has touched the upper circuit. There was a circuit of 20 percent in the stock on 17 December and 18 December also. After this the exchange reduced the circuit limit for the stock to 10 percent. However, even after this its speed remained the same. Overall, it has increased by 74 percent in just four trading sessions. You understand the circuit limit as a speed breaker, which prevents a stock from suddenly rising or falling too much so that the market remains calm and no instability arises.
How much did the stock rise in December?
Moving forward with this speed, this stock jumped by 75 percent in the month of December. If this growth continues at the end of the month, it will be the biggest monthly growth in a single month since June 2024. There was a 120 percent jump in the stock in June 2024.
Why is there a rise in shares?
Although there is no fundamental reason behind this rise in shares, market analysts say that due to technical factors and short covering, this stock emerged as one of the best performers in December. This rise has caught the attention of investors and an explanation has been sought from the exchange in view of this sharp fluctuation in prices. In its response dated December 20, the company said there is no material information or announcement to be shared with the stock exchanges under applicable rules, nor has any such information been withheld.
TCI Finance said in its regulatory filing on Saturday, “The company is complying with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR Regulations’) and keeps its investors updated on all events, information, etc., which may have a material impact on the company’s functioning and performance, including all price-sensitive Information is also included.”
Rolled the dice like this
This December rally has turned the tables. This stock was in loss at the beginning of the year, but now it has gained 5 percent on YTD basis. Just four trading sessions have helped the stock recover from 12 months of loss. TCI Finance is a non-banking financial services company registered with the Reserve Bank of India (RBI). It provides loans against securities and financing for commercial vehicles.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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