Shriram Transport Finance Company gained 2.15% to Rs 1,211.60 at 9:50 IST on BSE after the company said it raised Rs 130 crore after allotting non-convertible debentures on private placement basis.
The announcement was made after market hours yesterday, 22 September 2016.Meanwhile, the BSE Sensex was down 20.02 points, or 0.05% to 28,758.81.
On BSE, so far 12,615 shares were traded in the counter, compared with an average volume of 50,742 shares in the past one quarter. The stock hit high of Rs 1,214 and low of Rs 1,196.90 so far during the day. The stock hit a 52-week high of Rs 1,325 on 1 August 2016. The stock hit a 52-week low of Rs 736.50 on 21 January 2016. The stock had underperformed the market over the past one month till 22 September 2016, falling 7.08% compared with Sensex's 2.81% gains. The scrip also underperformed the market in past one quarter, rising 2.79% as against Sensex's 7.5% gains.
The large-cap company has an equity capital of Rs 226.88 crore. Face value per share is Rs 10.
Shriram Transport Finance Company said that allotment committee of the company in its meeting held on 22 September 2016 allotted 1,300 secured, redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 130 crore on private placement basis. The NCDs have tenure of three years from the date of allotment. The NCDs carry a coupon rate of 8.25% per annum.
Shriram Transport Finance Company's net profit rose 16.5% to Rs 374.10 crore on 14.1% rise in total income to Rs 2685.99 crore in Q1 June 2016 over Q1 June 2015.
Shriram Transport Finance Company is the largest asset financing non banking financial company (NBFC). The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks.
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