Indian finance firm SG Finserve's stock surges 20% post new investor stake acquisition.

Shares of SG Finserve, an Indian NBFC, jumped 20% after investor Madhusudan Murlidhar Kela acquired a 1.7% stake. The company provides business financing solutions and has seen its stock rise significantly over the past three and five years, despite recent declines. SG Finserve's loan book grew 92% quarter-on-quarter, and CRISIL Ratings reaffirmed its credit ratings for the company.