KFin Technologies Shares Hits Record High After Q4 Profit Rises

Shares of KFin Technologies Ltd. extended gains for the seventh straight session to hit record high on Tuesday after its profit rose in the fourth quarter. The company's net profit rose 11% to Rs 74.46 crore in the quarter ended March 2024, according to an exchange filing.

The stock rose as much as 8.50% to hit a record high of Rs 765.65 apiece. It pared gains to trade 5.47% higher at Rs 744 apiece as of 10:17 a.m. This compares to a 0.39% advance in the NSE Nifty 50 Index. The stock has risen as much as 24.33% in the seven-day rally.

The stock has risen 54.65% on a year-to-date basis and 137.24% in the last twelve months. Total traded volume on the NSE so far in the day stood at 2.36 times its 30-day average. The relative strength index was at 76.94, indicating that the stock may be overbought.

Out of 13 analysts tracking the company, 10 maintain a 'buy' rating, one recommends a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 7%.