Transcorp International rallies 43.8% in two sessions

Transcorp International was locked at 20% upper circuit at Rs 58.70 at 10:17 IST on BSE, with the stock extending Wednesday's rally triggered by the firm receiving authorized dealer category II license from RBI.

Meanwhile, the S&P BSE Sensex was down 220.69 points or 0.79% at 27,891.14.

On BSE, so far 4,364 shares were traded in the counter as against average daily volume of 977 shares in the past two weeks.

The stock's current price of Rs 58.70 is also its 52-week high for the counter. The stock hit a low of Rs 54.10 so far during the day. The stock had hit a 52-week low of Rs 21.72 on 5 June 2014.

Shares of Transcorp International have rallied 43.87% in two trading sessions from Rs 40.80 on 24 March 2015, after the company after during market hours yesterday, 25 March 2015, said it has received authorized dealer category II license from Reserve Bank of India (RBI) and with this the company will be able to undertake various permissible outward remittance activities such as remittance for overseas education, medical treatment abroad, emigration and emigration consultancy fees and for other permissible purposes. The stock had rallied by the maximum permissible level of 20% to settle at Rs 48.95 yesterday, 25 March 2015.

Transcorp International's net profit jumped 266.7% to Rs 0.22 crore on 54.5% growth in net sales to Rs 235.10 crore in Q3 December 2014 over Q3 December 2013.

Transcorp International is one of the leading player in inward remittance, foreign exchange, travels & tours business in India.

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