Bharat Financial vaults after completing assignment transaction

Bharat Financial Inclusion rose 3.02% to Rs 1,030.75 at 12:03 IST on BSE after company said that it has completed third direct assignment transaction of Rs 827.76 crore.

The announcement was made after market hours yesterday, 28 November 2018.

Meanwhile, the S&P BSE Sensex was up 362.79 points, or 1.02% to 36,079.74.

On the BSE, 2.20 lakh shares were traded in the counter so far, compared with average daily volumes of 1.23 lakh shares in the past two weeks. The stock had hit a high of Rs 1,035 and a low of Rs 1,004 so far during the day.

Bharat Financial Inclusion assigned a pool of receivables of an aggregate value of Rs 827.76 crore to one of the largest private sector banks on a Direct Assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the third Direct Assignment transaction in FY19. With this transaction, the company has completed Direct Assignment transactions worth Rs 2181.75 crore in FY 19.

Bharat Financial Inclusion's net profit rose 72.74% to Rs 232.92 crore on 57.76% rise in total income to Rs 760.13 crore in Q2 September 2018 over Q2 September 2017.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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