Bharat Financial Inclusion fell 1.05% to Rs 912.75 at 9:42 IST on BSE after the Reserve Bank of India placed restrictions on further purchases of shares of the company by foreign portfolio investors.
Meanwhile, the S&P BSE Sensex was down 156.39 points, or 0.49% to 31,653.16.On the BSE, 6.07 lakh shares were traded in the counter so far, compared with average daily volumes of 2.18 lakh shares in the past one quarter. The stock had hit a high of Rs 917.20 and a low of Rs 900 so far during the day. The stock hit a 52-week high of Rs 930.50 on 5 October 2016. The stock hit a 52-week low of Rs 465.40 on 27 December 2016.
The stock had outperformed the market over the past one month till 5 September 2017, rising 10.94% compared with 1.44% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.81% as against Sensex's 1.72% rise. The scrip had also outperformed the market in past one year, rising 11.31% as against Sensex's 9.77% rise.
The large-cap company has equity capital of Rs 138.06 crore. Face value per share is Rs 10.
The Reserve Bank of India (RBI) yesterday, 5 September 2017, notified that the foreign shareholding through Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Bharat Financial Inclusion has reached the trigger limit. Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of RBI.
Bharat Financial Inclusion reported net loss of Rs 37.05 crore in Q1 June 2017 as against net profit of Rs 235.91 crore in Q1 June 2016. Net sales rose 11.8% to Rs 463.08 crore in Q1 June 2017 over Q1 June 2016.
Bharat Financial Inclusion is among the largest microfinance companies in India.
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