Shriram Transport Finance Company rose 0.84% to Rs 913.95 at 14:00 IST on BSE after its Banking and Finance Committee approved and allotted 2,500 secured redeemable non-convertible debentures totalling Rs 250 crore on private placement basis.
The announcement was made during market hours today, 28 March 2016.Meanwhile, the BSE Sensex was down 198.68 points, or 0.78%, to 25,138.88.
On BSE, so far 20,853 shares were traded in the counter, compared with an average volume of 35,978 shares in the past one quarter. The stock hit a high of Rs 923 and a low of Rs 905 so far during the day. The stock hit a 52-week high of Rs 1,206.15 on 8 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 23 March 2016, rising 12.31% compared with the Sensex's 8.23% rise. The scrip had also outperformed the market in past one quarter, gaining 6.48% as against Sensex's 1.98% 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 that the Banking and Finance Committee of the company in its meeting held today, 28 March 2016 approved and allotted 2,500 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 250 crore on private placement basis. The debentures have tenure of 366 days and carry coupon rate of 9.15% per annum.
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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 possible need related to their assets.
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