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Repco Home Finance moves higher on fund raising

Capital Market 

Repco Home rose 3.71% to Rs 912.50 at 11:52 on after the company said its board approved raising of funds aggregating to Rs 272 crore via allotment of debentures to International Corporation.

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P Sensex was down 24.72 points or 0.08% at 31,131.19. The S&P Mid-Cap index rose 7.50 points or 0.05% at 14,806.91.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 33,000 shares in the past two weeks. The stock had hit a high of Rs 918.80 and a low of Rs 883.55 so far during the day. The stock had hit a record high of Rs 923 on 13 June 2017 and a 52-week low of Rs 499.50 on 20 December 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 17.54% compared with the Sensex's 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 39% as against the Sensex's 5.82% rise. The scrip had also outperformed the market over the past one year, surging 21.25% as against the Sensex's 18.03% rise.

The mid-cap company has equity capital of Rs 62.56 crore. Face value per share is Rs 10.

Repco Home announced that the securities allotment committee of the board of directors of the company approved the allotment of 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCD) aggregating to Rs 272 crore on private placement basis to International Corporation.

Repco Home Finance's net profit rose 19.8% to Rs 50.59 crore on 13.9% increase in total income to Rs 273.66 crore in Q4 March 2017 over Q4 March 2016.

Repco Home (RHFL) is one of the leading housing companies in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 11:52 IST