Shriram City Union Finance rose 2.2% to Rs 2,279.90 at 12:00 IST on BSE after the Banking and Securities Management Committee of the company allotted 1,000 non convertible redeemable debentures to two investors.
The announcement was made after market hours on Friday, 7 October 2016.Meanwhile, the BSE Sensex was up 70.72 points, or 0.25%, to 28,131.86.
On BSE, so far 1,031 shares were traded in the counter, compared with an average volume of 2,164 shares in the past one quarter. The stock hit a high of Rs 2,290.60 and a low of Rs 2,197.15 so far during the day. The stock hit a record high of Rs 2,354 on 28 September 2016. The stock hit a 52-week low of Rs 1,336.75 on 18 January 2016. The stock had outperformed the market over the past one month till 7 October 2016, rising 0.02% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 27.91% as against Sensex's 3.16% rise.
The large-cap company has an equity capital of Rs 65.93 crore. Face value per share is Rs 10.
Shriram City Union Finance announced that the Banking and Securities Management Committee as empowered by the company's board of directors in a meeting held on 7 October 2016 allotted 1,000 secured non convertible redeemable debentures of face value of Rs. 10 lakh each aggregating to Rs 100 crore to two investors of the company.
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Shriram City Union Finance's net profit rose 23.1% to Rs 181.79 crore on 15% rise in total income to Rs 1055 crore in Q1 June 2016 over Q1 June 2015.
Shriram City Union Finance is India's premier financial services company specializing in retail finance. It has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.
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