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Bharat Financial rises after completing securitization transaction

Capital Market 

Bharat Financial Inclusion rose 1.61% to Rs 954.45 at 11:26 IST on BSE after company said that it has completed the seventh direct assignment transaction of Rs 751.19 crore in FY19.

The announcement was made after market hours yesterday, 4 February 2019.

Meanwhile, the S&P BSE Sensex was down 25.66 points, or 0.07% to 36,557.08

On the BSE, 2,627 shares were traded in the counter so far, compared with average daily volumes of 73,000 shares in the past two weeks. The stock had hit a high of Rs 955 and a low of Rs 937.85 so far during the day.

Bharat Financial Inclusion yesterday assigned a pool of receivables of an aggregate value of Rs 751.19 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 seventh Direct Assignment transaction in FY19. With this transaction, the company has completed Direct Assignment transactions worth Rs 5448.40 crore in FY 19.

Bharat Financial Inclusion's net profit rose 49.47% to Rs 288.41 crore on 41.18% rise in total income to Rs 813.79 crore in Q3 December 2018 over Q3 December 2017.

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

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 05 2019. 11:26 IST