Shriram Transport Finance Company rose 2.21% to Rs 1,228.40 at 15:15 IST on BSE after the company announced that it is considering raising of funds through various options of borrowings.
The announcement was made during market hours today, 1 July 2016.Meanwhile, the BSE Sensex was up 162.40 points, or 0.6%, to 27,162.12.
On BSE, so far 47,000 shares were traded in the counter, compared with an average volume of 79,000 shares in the past two weeks. The stock hit a high of Rs 1,244.40, which was also a 52-week high for the stock. The stock hit a low of Rs 1,209.50 so far during the day. The stock hit a 52-week low of Rs 736.50 on 21 January 2016.
The large-cap company has an equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company announced that it is considering raising of funds through various options of borrowings including by way of issue of secured redeemable non-convertible debentures (NCDs) on private placement basis. Based on the market conditions, the meeting of Banking and Finance Committee will be held during the current month ending 31 July 2016 to consider and approve the terms of such borrowings.
Separately, Shriram Transport Finance Company announced after market hours yesterday, 30 June 2016 that the Banking and Finance Committee of the company in its meeting held yesterday, 30 June 2016, approved and allotted 850 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 85 crore on private placement basis.
Shriram Transport Finance Company's net profit fell 54.6% to Rs 143.92 crore on 26.2% rise in total income to Rs 2918.03 crore in Q4 March 2016 over Q4 March 2015.
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Shriram Transport Finance Company is the largest asset financing 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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