SRS gains on getting nod to launch Fixed Deposit Scheme

SRS Ltd. | Retailing | Retail | BSE: 533569 | NSE: SRSLTD

28 Feb 2013 Evaluate

SRS is currently trading at Rs. 41.85, up by 0.40 points or 0.97% from its previous closing of Rs. 41.45 on the BSE.

The scrip opened at Rs. 42.30 and has touched a high and low of Rs. 42.40 and Rs. 40.60 respectively. So far 119906 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.00 on 7-Dec-2012 and a 52 week low of Rs. 26.10 on 17-May-2012.

Last one week high and low of the scrip stood at Rs. 43.20 and Rs. 39.05 respectively. The current market cap of the company is Rs. 575.97 crore.

The promoters holding in the company stood at 74.04% while Institutions and Non-Institutions held 8.70% and 17.26% respectively.

SRS has received an approval to launch a Fixed Deposit (FD) Scheme pursuant to the provisions of the Companies (Acceptance of Deposits) Rules, 1975 under Section 58A of the Companies Act, 1956. The board of company at its meeting held on February 28, 2013 has approved for the same.

The minimum investment amount has been fixed at Rs. 20,000 with interest being compounded monthly and payable quarterly in Non-Cumulative Scheme and payable on maturity in Cumulative Scheme. An additional amount in multiples of Rs. 1000 is allowed.

Under the scheme, the Company is paying an annual interest of 12% for one year, 12.25% for a period of two years and 12.50% for a period of three years. As per the Companies (Acceptance of Deposit) Rules, 1975, the Company can raise approx. Rs. 186.87 Crore including Rs. 53.39 Crore from the Shareholders as per the Audited Balance Sheet of the Company as on March 31, 2012.

SRS is a diversified company with a business portfolio comprising of cinema exhibition, food and beverages, retail and manufacturing and retailing of jewellery. It sells a wide range of gold and diamond jewellery under the brand name of SRS Jewells.

SRS Share Price

0.35 0.00 (0.00%)

01-Nov-2019 17:53 View Price Chart

Peers

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