Shriram Transport Finance Company fell 0.56% to Rs 1,054.85 at 10:45 IST on BSE, with the stock reversing intraday gains triggered by announcement of raising funds through issue of non-convertible debentures.
The announcement was made after market hours yesterday, 29 March 2017.Meanwhile, the S&P Sensex was up 96.90 points, or 0.33% at 29,628.33.
On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 41,013 shares in the past one quarter. The stock was volatile. The stock had hit a high of Rs 1,084.40 and a low of Rs 1,052 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 778 on 26 December 2016. The stock had outperformed the market over the past one month till 29 March 2017, advancing 14.29% compared with the Sensex's 2.74% rise. The scrip had also outperformed the market over the past one quarter advancing 27.56% as against the Sensex's 12.01% rise.
The large-cap company has equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company (STFC) said that the allotment committee non-convertible debentures (NCDs) of the company has approved and allotted 11,000 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs 10 lakh each, aggregating to Rs 1100 crore on private placement basis.
Shriram Transport Finance Company's net profit fell 7.8% to Rs 345.96 crore on 5.8% increase in total income to Rs 2717.43 crore in Q3 December 2016 over Q3 December 2015.
Shriram Transport Finance Company is one of the leading asset financing non-banking financial companies (NBFC) in India.
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