 "Satin Creditcare Network surges on Morgan Stanley Asia stake buy")
Satin Creditcare Network has surged 19% to Rs 449 on the National Stock Exchange (NSE) in intra-day trade after Morgan Stanley Asia (Singapore) bought more than 2% stake in the company via open market purchases.
On Thursday, June 9, 2016, Morgan Stanley Asia (Singapore) PTE had purchased 830,334 equity shares representing 2.59% stake in Satin Creditcare Network at an average price of Rs 375 per share, the NSE data shows.
Shorecap II Limited sold 10,00,000 shares at Rs 376.25 per share and Rajsonia Consultancy Services Private Limited offloaded 154,000 shares at Rs 377.05 per share, data shows.
Satin Creditcare Network is North India’s largest and India’s 5th largest microfinance institutions (MFI) with presence across 16 states with 431 branches, as of March’16.
The company has guided Rs 100 crore net profits for the financial year 2016-17 (FY17) as compared to Rs 58 crore recorded in FY16.
At 10:55 AM, the stock was up 16% at Rs 435 on the NSE. The trading volumes on the counter jumped more than 10-fold with a combined 888,402 shares changed hands on the NSE and BSE so far.
On Thursday, June 9, 2016, Morgan Stanley Asia (Singapore) PTE had purchased 830,334 equity shares representing 2.59% stake in Satin Creditcare Network at an average price of Rs 375 per share, the NSE data shows.
Shorecap II Limited sold 10,00,000 shares at Rs 376.25 per share and Rajsonia Consultancy Services Private Limited offloaded 154,000 shares at Rs 377.05 per share, data shows.
Satin Creditcare Network is North India’s largest and India’s 5th largest microfinance institutions (MFI) with presence across 16 states with 431 branches, as of March’16.
The company has guided Rs 100 crore net profits for the financial year 2016-17 (FY17) as compared to Rs 58 crore recorded in FY16.
At 10:55 AM, the stock was up 16% at Rs 435 on the NSE. The trading volumes on the counter jumped more than 10-fold with a combined 888,402 shares changed hands on the NSE and BSE so far.
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