Smallcap NSE stock rises on approval to set up wholly owned subsidiary in Dubai Financial Centre

Sensex, Nifty settled higher in October 15 trade.

Shares of One Point One Solutions Ltd settled higher on Wednesday after the company received approval to register its wholly-owned subsidiary, One Point One Mena Holdings Ltd, at the Dubai International Financial Centre (DIFC).

In an exchange filing, the company said the subsidiary will be incorporated as a 100 percent owned unit of One Point One Solutions Ltd. The new entity will manage, monitor and invest in the company’s other subsidiaries and related entities, the filing added.

The stock opened at Rs 45.29 on the NSE, down 0.57 percent from the previous close. It later gained momentum to touch an intraday high of Rs 46.46, up 1.99 percent. The scrip settled 1.63 per cent higher at Rs 46.03.

In the broader market, the benchmark Sensex surged 575.45 points or 0.70 percent to close at 82,605.43. During the day, it rose as much as 697.04 points to 82,727.02. The Nifty advanced 178.05 points or 0.71 percent to settle at 25,323.55, led by buying in banking and financial stocks amid firm cues from Asian and European markets and expectations of a US Federal Reserve rate cut later this month.

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