Shares of non-banking financial company (NBFC) Golden Legend Leasing & Finance Ltd continued to gain for the third consecutive day on Wednesday even as benchmark indices Sensex and Nifty tumbled amid a spike in crude oil prices due to renewed US-Iran tensions. The 30-share BSE Sensex tanked 537.83 points to 77,642.89, while the 50-share NSE Nifty was down 163.55 points to 24,235.15. Despite this fall, the stock opened flat at Rs 9.11 on the BSE and gained to touch the intraday high of Rs 9.56, representing a gain of 4.93 per cent. Last seen, the stock was trading at Rs 9.20 with a gain of Rs 0.09 or 99 per cent. The counter has gained 9.52 per cent in the last three days. The action in the stock comes as the company has announced the incorporation of its new wholly-owned subsidiary (WOS), Gullakkart Private Limited.
Strategic Move Into Digital Payments
According to the information shared with the exchanges, the development marks a significant milestone as it will strengthen the NBFC's digital financial services ecosystem and scale its technology-enabled lending operations.
"The WOS has been incorporated with the objective of supporting the Company's digital lending ecosystem. The WOS proposes to undertake activities relating to digital payment solutions and intends to apply for a Prepaid Payment Instrument (PPI) Licence from the Reserve Bank of India ("RBI"), subject to applicable regulatory approvals," the filing reads.
Once approved by the Reserve Bank of India (RBI), the proposed PPI platform is expected to:
- Enhance Customer Convenience: Provide seamless, in-house digital payment solutions directly to its consumer base.
- Complement Existing Lending Business: Create a holistic technology-driven lending ecosystem where borrowing and payments coexist smoothly.
Share price history
According to BSE Analytics, the stock has delivered a positive return of 18.86 per cent over the past year. However, the stock has corrected 19.44 per cent on a year-to-date (YTD) basis, compared to an 8.76 per cent dip in the benchmark index.
The stock has a 52-week high of Rs 16.38, touched on August 18, 2025 and a 52-week low of Rs 7.20, hit on July 22, 2025.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
