Shriram Transport Finance Company gained 3.39% to Rs 964.70 at 12:50 IST on BSE after company's Banking and Finance Committee approved and allotted 260 secured redeemable non-convertible debentures totalling Rs 26 crore on private placement basis.
The announcement was made after market hours on Friday, 22 April 2016.Meanwhile, the BSE Sensex was down 140.24 points, or 0.51%, to 25,697.90.
On BSE, so far 15,448 shares were traded in the counter, compared with an average volume of 38,622 shares in the past one quarter. The stock hit a high of Rs 987.90 and a low of Rs 960 so far during the day. The stock hit a 52-week high of Rs 1,060 on 23 April 2015. The stock hit a 52-week low of Rs 736.50 on 21 January 2016. The stock had outperformed the market over the past one month till 22 April 2016, rising 2.1% compared with 2% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 26.62% as against Sensex's 5.74% rise.
The large-cap company has equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company announced that the Banking and Finance Committee of the company in its meeting held on 22 April 2016 approved and allotted 260 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakhs each, aggregating to Rs 26 crore on private placement basis. NCDs were allotted on 22 April 2016 and have a tenure of 10 years with coupon rate of 9.2% per annum.
Shriram Transport Finance Company's net profit rose 20% to Rs 375.07 crore on 15.6% rise in total income to Rs 2548.32 crore in Q3 December 2015 over Q3 December 2014.
Shriram Transport Finance Company is the flagship company of the Shriram group which has significant presence in consumer finance, life insurance, general insurance, stock broking and distribution businesses. Established in 1979, Shriram Transport is today the largest asset financing NBFC (non-banking financial company) in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every
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