New Delhi, March 25 -- SG Finserve share price hit a 20% upper circuit on Tuesday after ace investor Madhusudan Kela bought over 1% stake in the small-cap company. SG Finserve shares jumped as much as 20% to Rs.432.65 apiece on the BSE.

The multibagger small-cap stock has seen a significant investment by the renowned investor. On March 24, Madhusudan Murlidhar Kela acquired 9,51,773 equity shares of SG Finserve, representing 1.7% stake in the company, according to BSE bulk deal data.

Kela purchased SG Finserve shares at Rs.350.01 apiece, the data showed.

SG Finserve is an RBI-registered non-banking financial company (NBFC) that specialises in business financing solutions.

CRISIL Ratings has reaffirmed the credit rating for SG Finserve...