Meanwhile, the S&P BSE Sensex was up 126.78 points or 0.48% at 26,520.79.
On the BSE, 2.13 lakh shares were traded on the counter so far as against the average daily volumes of 2.19 lakh shares in the past one quarter. The stock had hit a high of Rs 754.60 and a low of Rs 735.45 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 434.85 on 9 December 2015. The stock had underperformed the market over the past one month till 29 November 2016, declining 16.88% compared with the Sensex's 5.54% fall. The scrip had also underperformed the market in past one quarter, sliding 7.31% as against the Sensex's 5.41% fall.
The large-cap company has equity capital of Rs 137.91 crore. Face value per share is Rs 10.
A foreign brokerage has recently maintained overweight rating on Bharat Financial Inclusion (BFIL) stock for a target price of Rs 1,125, citing the company's strong collection progress. The brokerage reportedly said that BFIL has collected 89% of its overall dues over the period from 11 November to 25 November 2016. In the wake of brokerage reports, BFIL stock had surged 7.86% to settle at Rs 734 yesterday, 29 November 2016.
Meanwhile, the company in its presentation to the stock exchanges issued during market hours yesterday, 29 November 2016, said, it is recording a collection efficiency of 97% with a 2-week lag in the wake of the government's recent demonetisation move. The company said that most of its customers cater to non-discretionary spending.
Bharat Financial Inclusion's net profit rose 87.4% to Rs 145.88 crore on 38.6% increase in total income to Rs 449.60 crore in Q2 September 2016 over Q2 September 2015.
Bharat Financial Inclusion is among the largest microfinance companies in India.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)