India's KFin Tech gains as analysts expect Ascent buy to boost international presence

Kfin Technologies

17/04/2025 07:51

** India's KFin Technologies KFIN.NS jumps 8.2% to 1,139 rupees, set for third straight session of gains

** Stock rose 4.5% on Wednesday after financial services provider said it will acquire 51% stake in Singapore-based Ascent Fund Services for $34.7 mln

** Acquisition will allow KFIN to strengthen market presence in new geographies and product segments, says Kotak Institutional Equities

** Nuvama believes Ascent buy gives KFIN access to strong client relationships, adding it's key for KFIN to retain Ascent's promoters and sales personnel

** "Acquisition will help strengthen KFIN’s presence in Southeast Asia and open up opportunities to expand into larger fund administration markets, such as the US and Europe" - Motilal Oswal

** Stock, however, down 26% YTD

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))