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Magma Fincorp trades in green on the BSE

16 Jul 2013 Evaluate

Magma Fincorp is currently trading at Rs. 90.00, up by 0.30 points or 0.33% from its previous closing of Rs. 89.70 on the BSE.

The scrip opened at Rs. 88.60 and has touched a high and low of Rs. 90.00 and Rs. 88.60 respectively. So far 401 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 110.40 on 10-Jan-2013 and a 52 week low of Rs. 61.00 on 29-Aug-2012.

Last one week high and low of the scrip stood at Rs. 94.00 and Rs. 87.10 respectively. The current market cap of the company is Rs. 1709.61 crore.

The promoters holding in the company stood at 33.66% while Institutions and Non-Institutions held 55.93% and 10.41% respectively.

Credit rating agency, CARE has assigned ‘AA’ rating to Magma Fincorp’s Proposed Cumulative Redeemable Non-Convertible Preference Shares (Series V) worth Rs 56.0 crore. The rating agency has also reaffirmed ‘AA’ rating to company’s Long term/Short term Unsecured Subordinated Tier II debt (Series I) worth Rs 75.0 crore.

The company has received the said rating on back of its long track record, experienced management team, wide branch network, diversified asset portfolio with increasing share of high yield products over the years and satisfactory asset quality and collection efficiency.

The entity has reported a net profit of Rs 144.9 crore in FY'13 with average assets under management of Rs 18,378 crore by the end of this period. It had reported a NIM of 4.91% in the last fiscal compared to 3.40% a year earlier.

 

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