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Satin Creditcare gains as RBI hikes foreign investment ceiling

Capital Market 

Satin Creditcare Network was up 2.33% to Rs 289.75 at 11:45 on after the Reserve of yesterday, 19 June 2017, notified increasing the foreign investment limit in the company to 49% from 24% earlier.

Meanwhile, the S&P Sensex was up 38.06 points or 0.12% at 31,349.63. The S&P Small-Cap index rose 78.75 points or 0.5% at 15,732.72.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 28,915 shares in the past one quarter. The stock had hit a high of Rs 294.04 and a low of Rs 284 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016 and a record low of Rs 243.55 on 12 June 2017.

The stock had underperformed the market over the past one month till 19 June 2017, sliding 15.02% compared with the Sensex's 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 27.69% as against the Sensex's 5.61% rise. The scrip had also underperformed the market over the past one year, declining 34.53% as against the Sensex's 17.6% rise.

The small-cap company has equity capital of Rs 39.11 crore. Face value per share is Rs 10.

On consolidated basis, Satin Creditcare Network reported net loss of Rs 43.11 crore in Q4 March 2017, as against net profit of Rs 24.93 crore in Q4 March 2016. Total income declined 78.1% to Rs 175.22 crore in Q4 March 2017 over Q4 March 2016.

Satin Creditcare Network is one of the leading microfinance companies with a strong presence in North

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

First Published: Tue, June 20 2017. 11:47 IST