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Explained: Why Paisalo Digital shares hit 20% upper circuit on Wednesday

Paisalo Digital's shares surged by 20% after the company reported a rise in promoter shareholding to 46.72% in Q1FY27 from 41.75% in FY26, achieved through open market purchases. This significant increase in ownership reflects confidence in the company's performance and future prospects. Furthermore, Paisalo Digital announced an AI-led growth strategy aimed at doubling its assets under management (AUM), income, and profit over the next three years, highlighting its commitment to innovation and expansion.