Golden Goenka Fincorp trades in red on the BSE

Golden Goenka Fincorp is currently trading at Rs. 14.65, down by 0.53 points or 3.49% from its previous closing of Rs. 15.18 on the BSE.

The scrip opened at Rs. 14.60 and has touched a high and low of Rs. 14.90 and Rs. 14.35 respectively. So far 2531 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 45.00 on 04-Jul-2012 and a 52 week low of Rs. 12.70 on 12-Oct-2012.

Last one week high and low of the scrip stood at Rs. 15.45 and Rs. 14.10 respectively. The current market cap of the company is Rs. 95.63 crore.

The promoters holding in the company stood at 55.57% while Non-Institutions held 44.43%.

Credit rating agency, CARE has reaffirmed ‘BB-’ rating to Golden Goenka Fincorp’s Secured Redeemable Non-Convertible Debenture worth Rs 50.00 crore.

The company has received the said rating on the back of volatile nature of company’s core business, high risk asset portfolio as majority of loans advanced are unsecured in nature, short track record in relatively large scale lending operation, risk arising out of concentration of loans to a few clients, significant exposure in group & subsidiary companies majority of which are yet to yield commensurate returns, low profitability and inadequate risk management system.

Golden Goenka Fincorp, being a non-banking financial company, it is in the business of share investment, assets financing, investment banking, equipment lease and finance and bill discounting for reputed companies.