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SKS Microfinance touches the roof on getting nod to raise FII limit to 74%

21 Dec 2011 Evaluate

SKS Microfinance is currently trading at its upper circuit limit of Rs 98.35, up by 4.65 points or 4.96% from its previous closing of Rs 93.70 on the BSE.

The scrip opened at Rs 95.00 and has touched a high and low of Rs 98.35 and Rs 94.00 respectively. So far 74858 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 756.00 on 20-Jan-2011 and a 52 week low of Rs 90.20 on 01-Dec-2011.

Last one week high and low of the scrip stood at Rs 106.95 and Rs 90.60 respectively. The current market cap of the company is Rs 677.98 crore.

The promoters holding in the company stood at 36.84% while Institutions and Non-Institutions held 25.14% and 38.02% respectively.

SKS Microfinance, India's only-listed micro lender has received an approval from shareholders for raising the investment limit of foreign institutional investors in the company to 74 percent from 24 percent.

Recently, the company was facing collection-related problems in parts of West Bengal and Gujarat due to local and process-related issues. The company had been already hit by the Andhra Pradesh microfinance crisis.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor.

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