SKS Microfinance is trading higher by 3% at Rs 181 in opening deals on the BSE after the company announced the third microfinance securitization during the current financial year of Rs 215 crore.
"With this, the total sum of securitizations completed for FY-14 (YTD) is Rs 616.81 crore," said S. Dilli Raj, Chief Financial Officer, SKS Microfinance.
"This transaction is priced at a good 200 basis points lower than our cost of borrowing for the previous quarter,” the company said.
The stock opened at Rs 179 and touched a high of Rs 182 on the NSE. A combined around 78,000 shares have changed hands on the counter in early morning deals on the NSE and BSE.
"With this, the total sum of securitizations completed for FY-14 (YTD) is Rs 616.81 crore," said S. Dilli Raj, Chief Financial Officer, SKS Microfinance.
"This transaction is priced at a good 200 basis points lower than our cost of borrowing for the previous quarter,” the company said.
The stock opened at Rs 179 and touched a high of Rs 182 on the NSE. A combined around 78,000 shares have changed hands on the counter in early morning deals on the NSE and BSE.
