Shriram Transport Finance Company rose 3.42% to Rs 860 at 12:17 IST on BSE after the company said it has allotted non-convertible debentures aggregating to Rs 75 crore.
The announcement was made after market hours yesterday, 29 December 2016.Meanwhile, the S&P BSE Sensex was up 257.97 points or 0.98% at 26,624.12.
On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 1.07 lakh shares in the past one quarter. The stock had hit a high of Rs 863.35 and a low of Rs 839 so far during the day.
The stock had hit a record high of Rs 1,325 on 1 August 2016 and a 52-week low of Rs 736.50 on 21 January 2016. The stock had underperformed the market over the past one month till 29 December 2016, declining 8.43% compared with the Sensex's 0.11% fall. The scrip had also underperformed the market over the past one quarter declining 25.99% as against the Sensex's 5.25% fall.
The large-cap company has equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company said it has allotted unsecured redeemable rated listed non-convertible subordinated debt in the nature of debentures aggregating to Rs 75 crore yesterday, 29 December 2016 on private placement basis. The debentures have tenure of 10 years and carry coupon rate of 8.5% per annum.
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Shriram Transport Finance Company's net profit rose 14.7% to Rs 387.65 crore on 11.8% growth in total income to Rs 2713.59 crore in Q2 September 2016 over Q2 September 2015.
Shriram Transport Finance Company is the largest asset financing non-banking financial company (NBFC). The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks.
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