SKS Microfinance surges on plan to receive Rs 100 crore refinance line from MUDRA

Bharat Financial Inclusion Ltd. - (Amalgamated) | Finance - NBFC | BFSI | BSE: 533228 | NSE: BHARATFIN

29 Oct 2015 Evaluate

SKS Microfinance is currently trading at Rs. 431.05, up by 5.40 points or 1.27% from its previous closing of Rs. 425.65 on the BSE.

The scrip opened at Rs. 429.70 and has touched a high and low of Rs. 436.80 and Rs. 426.25 respectively. So far 190382 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 589.50 on 31-Jul-2015 and a 52 week low of Rs. 309.60 on 30-Oct-2014.

Last one week high and low of the scrip stood at Rs. 437.00 and Rs. 398.00 respectively. The current market cap of the company is Rs. 5472.58 crore.

The promoters holding in the company stood at 6.31% while Institutions and Non-Institutions held 64.48% and 29.21% respectively.

SKS Microfinance will avail its first refinance limit from MUDRA whereby MUDRA (Micro Units Development & Refinance Agency), launched by the Government of India for financing micro entrepreneurs engaged in small business activities like manufacturing, processing, service sector and trade, has sanctioned a refinance line of Rs 100 crore at 10% per annum to SKS Microfinance.

The development is expected to contribute to bringing down the cost of interest-bearing liabilities at SKS. Earlier, with the cost of its interest-bearing liabilities dropping to 11.9% in Q1-FY16 from 13.6% in FY14 on account of downward adjustments in risk premium, the company could reduce the interest rate charged to borrowers.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.

Bharat Fin.-Amalgama Share Price

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Peers

Company Name	CMP
Bajaj Finance	955.05
Shriram Finance	1007.95
Aditya Birla Capital	363.05
Chola Invest & Fin.	1676.05
Tata Capital	321.70
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