KFin Technologies shares hit 5-month high: Shares of KFin Technologies in Monday’s trade have marked a fresh 5-month high of Rs 1344.1 apiece on the BSE, rallying close to 6 per cent at the day’s high.

The stock is trading above its 50, , 100, and 200-day moving averages (DMAs), indicating a long-term uptrend  and suggesting that the stock is in a relatively strong position.

The sharp spurt in the stock is triggered after foreign brokerage Jefferies has maintained its ‘buy’ call on the stock with the target pegged at Rs 1,460. The suggested stock price implies an upside of nearly 15 per cent from the previous close.

The brokerages highlighted that the company’s management is focused on ramping up & driving synergies from mergers and acquisitions.

It also noted that the company’s recently acquired Singapore-based global fund administrator Ascent Fund Services has presence across large markets and it can now target larger clients.

Also, it added that the company’s domestic business is faring well and it isn’t facing any specific pricing issue.

Other triggers 

Other triggers that are fuelling gains in KFin Technologies shares are:

• Opportunities for the company to tap foreign markets have seen an increase.
• Additionally, the company received licenses to launch in Southeast-Asian markets.
• SEBI’s new platform – MITRA for unclaimed mutual fund folios is also seen to have a positive impact on KFin Technologies’ stock
• E-KYC, UPI and Account Aggregation also extended support.