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Spandana Sphoorty gains nearly 22% in two days

Capital Market 

Spandana Sphoorty Financial rose 2.46% to Rs 763, as the scrip extended gains for second day on follow-up buying.

In two sessions, the stock has added 21.8% from its recent closing low of Rs 626.60 on 14 November 2020.

On a year-to-date (YTD) basis, the stock has declined by 36.04% while the benchmark S&P BSE Sensex has gained 6.49% during the same period.

In a BSE filing made after market hours yesterday (17 November 2020), Spandana Sphoorty said that its board had approved the allotment of 7500 10-year G-Sec market linked secured listed rated senior redeemable non-convertible debentures of face value of Rs 1 lakh each, on a private placement basis to JM Financial Products in consideration of an aggregate amount of Rs 75 crore. The tenure of the instrument is 455 days and its date of maturity is 16 February 2022.

Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI).

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

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First Published: Wed, November 18 2020. 09:18 IST