SKS Microfinance extends rally after securitization deal
In February, the company had issued a profit guidance of Rs 125 crore for the current financial year 2014-15.
SKS Microfinance has soared 13% to Rs 245, extending its 9% rally in past three trading sessions on the BSE, after the company said it has completed the thirteenth securitization transaction during the financial year 2013-14 (FY14) of Rs 159.80 crore.
With this, the total sum of securitizations for FY14 is Rs 1,816 crore, SKS Microfinance said in a statement.
The entire pool qualifies for priority sector treatment as per Reserve Bank of India’s priority sector lending guidelines, it added.
Meanwhile, in February, the company had issued a profit guidance of Rs 125 crore for the current financial year 2014-15 (FY15). The company had reported net profit of Rs 43 crore during first nine months (April-December) of FY14.
The stock is currently trading at its 52-week high, seen an over three-fold jump in trading volumes. Till 1020 hours, a combined 3.3 million shares already changed hands on the counter as against an average sub 1 million shares that were traded daily in past two weeks on the BSE and NSE.
With this, the total sum of securitizations for FY14 is Rs 1,816 crore, SKS Microfinance said in a statement.
The entire pool qualifies for priority sector treatment as per Reserve Bank of India’s priority sector lending guidelines, it added.
Meanwhile, in February, the company had issued a profit guidance of Rs 125 crore for the current financial year 2014-15 (FY15). The company had reported net profit of Rs 43 crore during first nine months (April-December) of FY14.
The stock is currently trading at its 52-week high, seen an over three-fold jump in trading volumes. Till 1020 hours, a combined 3.3 million shares already changed hands on the counter as against an average sub 1 million shares that were traded daily in past two weeks on the BSE and NSE.