India, March 25 -- Shares of SG Finserve hit as much as 20 per cent during Tuesday's trading session after a significant bulk purchase by renowned investor Madhusudan Murlidhar Kela.

Kela acquired 9.51 lakh shares of the company, which is about a 1.7 per cent stake in it, at a price of Rs.350.01 on Monday.

At 12:20 pm IST, the company's shares were trading at Rs.407.80 on the Bombay Stock Exchange (BSE), which was a rise of 13.10 per cent or Rs.47.25. The intraday high was Rs.432.65.

The company's stock has surged more than 23 per cent over the past month, significantly outperforming the benchmark NSE Nifty 50 index, which rose by 5 percent in the same period, according to a Moneycontrol report.

SG Finserve is a Non-Banking Financial ...