Shriram Transport Finance gains after raising funds

Shriram Transport Finance Company gained 4.33% to Rs 1,352.50 at 14:46 IST on BSE after the company said that it allotted non-convertible subordinated debt aggregating to Rs 35 crore.

The announcement was made during market hours today, 5 December 2017.

Meanwhile, the S&P BSE Sensex was down 28.08 points, or 0.09% at 32,841.64.

On the BSE, 38,533 shares were traded on the counter so far as against the average daily volumes of 47,190 shares in the past one quarter. The stock had hit a high of Rs 1,357.40 and a low of Rs 1,295.95 so far during the day. The stock had hit a record high of Rs 1,364.90 on 30 November 2017 and a 52-week low of Rs 778 on 26 December 2016.

 

The stock had outperformed the market over the past one month till 4 December 2017, falling 0.38% compared with the Sensex's 2.42% decline. The stock had also outperformed the market over the past one quarter, advancing 20.76% as against the Sensex's 3.68% rise. The scrip had also outperformed the market over the past one year, rising 44.77% as against the Sensex's 25.31% rise.

The large-cap company has equity capital of Rs 226.88 crore. Face value per share is Rs 10.

Shriram Transport Finance Company said that the Allotment Committee - non convertible debentures (NCDs) of the company in its meeting held today, 5 December 2017, approved and allotted 350 unsecured, redeemable, rated non-convertible subordinated debt of face value of Rs 10 lakh each, aggregating to Rs 35 crore on private placement basis.

Shriram Transport Finance Company's net profit rose 23.6% to Rs 479.11 crore on 9.8% rise in total income to Rs 2979.92 crore in Q2 September 2017 over Q2 September 2016.

Shriram Transport Finance Company is one of the leading asset financing non-banking financial companies (NBFC) in India.

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