Golden Legend Leasing and Finance Ltd. shares climbed 8.3% to ₹9.46 on Tuesday, marking the second consecutive session of gains for the penny stock.
The rally followed the company's announcement that it has incorporated a wholly owned subsidiary, Gullakkart Private Limited, aimed at strengthening its digital financial services portfolio.
The new entity is positioned to enhance the lender's capabilities in digital payments, with a specific focus on potential Prepaid Payment Instrument (PPI) services.
This strategic move signals an attempt by the small-cap lender to diversify beyond traditional leasing activities and capture growth in India's expanding digital payments ecosystem.
The stock's momentum mirrors a broader trend of speculative interest in Indian small-cap and micro-cap equities.
Similar patterns have been observed in other low-priced stocks, such as Sindhu Trade Links, which recently recorded four consecutive sessions of gains driven by sustained buying interest.