Spandana Sphoorty soars on large volumes

Spandana Sphoorty Financial surged 16.33% to Rs 622.25 amid heavy volumes.

On the BSE, the counter clocked volume of 27,486 shares as compared to an average volume of 5,527 in the past three months.

On the NSE, the counter clocked volume of 583,736 shares as compared to an average volume of 61,579 in the past three months.

The scrip advanced for third day in a row. The stock has added 18.9% in three sessions, from it is recent closing low of Rs 522.45 recorded on 23 April 2021.

In a regulatory filing made during market hours today, Spandana Sphoorty Financial said that the management committee of the board of directors of the company approved issuing up to 10,000 senior, secured, rated, listed, redeemable, transferable, principal protected, market-linked (PP-MLD), non-convertible debentures (NCDs) having face value of Rs 1 lakh each, aggregating up to Rs 100 crore, with a green shoe option of up to 2,500 PP-MLD, non-convertible debentures having face value of Rs 1 lakh each, aggregating up to Rs 25 crore only on private placement basis.

Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI).

The company reported a consolidated net loss of Rs 29.70 crore in Q3 FY21 compared with net profit of Rs 129.61 crore in Q3 FY20. Total income fell 4% year-on-year (Y-o-Y) to Rs 344.26 crore during the quarter.

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