Shares of Kfin Technologies Ltd. gained nearly 4% on Monday, October 13, after brokerage firm Citi's double upgrade on the stock, along with an increase in price target

Citi "double-upgraded" the stock to "buy" from its earlier rating of "sell", and also increased its share price target by 13% to ₹1,215 from ₹1,100 earlier. The revised price target implies a potential upside of 10.4% from Friday's closing levels.

The brokerage said in its note that Kfin Tech is well-positioned to benefit from robust mutual fund flows and a rise in international clients.

Kfin Tech is aided by Ascent's global capabilities and near-term buoyancy in primary markets, it said.

In April this year, Kfin Technologies had signed a definitive agreement with Ascent Fund Services to acquire a controlling 51% stak

See Full Page