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The unlisted shares of Fino Paytech soared about 20 per cent to Rs 380-400 in the unlisted market within hours of the Sebi nod.

“If one can differentiate between risk and volatility, then volatility is a great friend. Look for stocks that are volatile for when they correct, you will get an entry point.”

A total of 258,615 shares changed hands on the counter till 01:31PM (IST)

Vijay Kedia had entered the stock in December quarter of 2015.

The stock traded at a P/E multiple of 11.11, while the price-to-book value ratio stood at 2.86.

Promoters held 43.52 per cent stake in the company as of 30-Jun-2021, while FII and DII ownership stood at 33.27 per cent and 1.44 per cent, respectively.

The stock quoted a 52-week high price of Rs 724.5 and a 52-week low of Rs 398.75.

Following the development, shares of Hindustan Copper zoomed 10 per cent to Rs 132 on Wednesday, before paring some gains to trade at Rs 131.15 at 10.05 am.

The outperformance factor comes from the underperformance of China. We have seen China underperform big time in the last three months. Compared to the EM benchmark or China, there would be 30-35% outperformance from the Indian market, says Mirae Asset’s Rahul Chadha.

A total of 512 shares changed hands on the counter till 12:29PM (IST)