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Satin Creditcare slips on profit taking

Capital Market 

Satin Creditcare Network fell 2.45% to Rs 286.30 at 12:46 on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P Sensex was up 34.01 points or 0.11% at 31,137.50. The S&P Small-Cap index rose 14.18 points or 0.09% at 15,532.11.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 40,000 shares in the past two weeks. The stock had hit a high of Rs 299 and a low of Rs 284.75 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016 and a record low of Rs 243.55 on 12 June 2017.

Shares of Satin Creditcare Network had rallied 16.51% in the preceding two trading sessions to settle at Rs 293.50 yesterday, 13 June 2017, from its closing of Rs 251.90 on 9 June 2017.

On consolidated basis, Satin Creditcare Network reported net loss of Rs 43.11 crore in Q4 March 2017, as against net profit of Rs 24.93 crore in Q4 March 2016. Total income declined 78.1% to Rs 175.22 crore in Q4 March 2017 over Q4 March 2016.

Satin Creditcare Network is one of the leading microfinance companies with a strong presence in North 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: Wed, June 14 2017. 12:47 IST