Indostar Capital Finance hits 52-week high; stock surges 37% in 7 days

On August 18, Indostar Capital Finance allotted debentures to State Bank of India, worth Rs 200 crore, on preferential placement basis

Indostar Capital Finance shares vaulted as much as 19.3 per cent to hit fresh 52-week high of Rs 329.8 apiece on the BSE in an otherwise flat market on Wednesday. With today's intra-day gain, the stock has surged 36.6 per cent on the BSE in the past seven trading sessions, as against 2.4 per cent gain in the S&P BSE Sensex, BSE data show.

On August 18, the company allotted 2,000, Secured, Redeemable, Non-Convertible, Rated, Listed, Taxable Bonds in the nature of Debentures of Face Value of Rs 10 lakh each, for cash, at par, aggregating to Rs 200 crore to