Business Standard

Srei Infra gains over 3% on BSE

Shares of the company ended the day at Rs 35.95

Related News

Stocks of Srei Infrastructure gained of over three% on today, thereby adding Rs 90 crore to its market capitalisation, after the company said it is planning to raise $ 500 million through its infrastructure debt fund.

Srei Infrastructure is planning to raise $ 500 million through its infrastructure debt fund which is likely to be launched as early as January next year.

Shares of the company ended the day at Rs 35.95, higher by 3.45% on BSE. The scrip had surged 8.2% to Rs 37.60 intra-day.

The stock which has been on a roll since November 9, the day it announced its September quarter result,s has added a whopping Rs 522 crore to its market capitalisation since then.

In today's trading session the scrip has added Rs 90 crore to its market worth.

Market analysts said the strong rally in the counter is largely owing to the fact that the company has already received the Certificate of Registration from market regulator Sebi for its infrastructure debt fund. Moreover, the company also posted bullish earnings.

Srei Infrastructure reported an over five-fold growth in net profit at Rs 130.20 crore in the second quarter ended September 30, while its consolidated income grew 34% to Rs 788 crore.

"Srei plans to raise around $ 500 million for its Infrastructure Debt Fund through the MF route," Srei Infrastructure Finance CMD Hemant Kanoria had said, adding that the fund will be launched in the fourth quarter of FY13.

The government has allowed financial institutions to float IDFs through the mutual fund route or structure it as an NBFC to attract long-term savings into the infrastructure sector.

The government has estimated that a whopping $ 1 trillion will be required during the next five years for developing the country's infrastructure.

Read more on:   
|
|

Srei Infra gains over 3% on BSE

Shares of the company ended the day at Rs 35.95

Stocks of Srei Infrastructure gained of over three% on BSE today, thereby adding Rs 90 crore to its market capitalisation, after the company said it is planning to raise $ 500 million through its infrastructure debt fund.

Stocks of Srei Infrastructure gained of over three% on today, thereby adding Rs 90 crore to its market capitalisation, after the company said it is planning to raise $ 500 million through its infrastructure debt fund.

Srei Infrastructure is planning to raise $ 500 million through its infrastructure debt fund which is likely to be launched as early as January next year.

Shares of the company ended the day at Rs 35.95, higher by 3.45% on BSE. The scrip had surged 8.2% to Rs 37.60 intra-day.

The stock which has been on a roll since November 9, the day it announced its September quarter result,s has added a whopping Rs 522 crore to its market capitalisation since then.

In today's trading session the scrip has added Rs 90 crore to its market worth.

Market analysts said the strong rally in the counter is largely owing to the fact that the company has already received the Certificate of Registration from market regulator Sebi for its infrastructure debt fund. Moreover, the company also posted bullish earnings.

Srei Infrastructure reported an over five-fold growth in net profit at Rs 130.20 crore in the second quarter ended September 30, while its consolidated income grew 34% to Rs 788 crore.

"Srei plans to raise around $ 500 million for its Infrastructure Debt Fund through the MF route," Srei Infrastructure Finance CMD Hemant Kanoria had said, adding that the fund will be launched in the fourth quarter of FY13.

The government has allowed financial institutions to float IDFs through the mutual fund route or structure it as an NBFC to attract long-term savings into the infrastructure sector.

The government has estimated that a whopping $ 1 trillion will be required during the next five years for developing the country's infrastructure.

image

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Recommended for you

Advertisements

Quick Links

Market News

Stocks included in MSCI India Index in focus; UPL, Bharti Infratel surges over 5%

Bharti Infratel, Container Corp, Lupin, Eicher Motors, Bharat Forge, Marico, Shree Cement and UPL were up 1%-6% each on the NSE.

Markets trim gains; Bharti Airtel up 3%, ONGC dips 2%

At 13:35, the Sensex was trading higher by 159 points at the 27,666 mark and the Nifty gained 59 points at 8,378

Speciality Restaurants dips on weak Q4 results

The stock dipped 8% to Rs 159 on the BSE.

Rupa & Company hits new high; zooms over 90% in six days

The stock hit a new high of Rs 437, and has zoomed by 93% in the past six trading sessions on the NSE from Rs 226 on May 21.

Ador Welding surges over 10% on fund buying

On May 28, Sundaram Mutual Fund purchased 170,000 equity shares of Ador Welding at Rs 209.50 per share.

 

Back to Top