Satin Creditcare Network Rises Over 11% Fundraising On Cards

Satin Creditcare Network shot up more than 11% in Tuesday’s trading session. It was up by 11.4% at Rs 282 per share at 1130 hours IST on BSE. It touched a high of Rs 286.80 and a low of Rs 256 so far during the day.

The company seeks shareholder approval to issue securities worth Rs 300 crore at the annual general meeting to take place on July 6 2017, reported a leading news agency.

Company’s peers include SPS Finquest and Tourism Finance Corporation. The stock has underperformed both BSE small-cap and Nifty Financial Services over a period of one year.

Satin Creditcare Network Limited is a non-deposit accepting micro finance non-banking financial company, which is engaged in microfinance activities.

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