Jain Irrigation Systems has soared 5.3% to Rs 92.35, after the company said it has obtained a regulatory approval from the Reserve Bank of India to launch the new non-banking financial company (NBFC).
“The new joint venture is already incorporated in the name and style of ''Sustainable Agro commercial Finance'' to be commonly recognized by its acronym; SAFL (pronounced SAFAL) will be a non deposit taking NBFC,” a leading drip and micro irrigation company said in a filing.
“The new NBFC will focus its activities on farm and farmer only and operate in the rural & semi urban geographies of India,” it added. The company is starting an NBFC in partnership with International Finance Corporation.
The trading volumes on the counter more than double, with a combined 7.53 million shares have already changed hands so far, against an average 3.3 million shares that were traded daily in past two weeks.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app