Moneycontrol Bureau
Non-banking finance company SKS Microfinance's shares rallied more than 2 percent intraday Wednesday on completion of third securitisation transaction in FY16.
"SKS, on December 29, completed third securitisation transaction for a pool value of Rs 372.47 crore during FY16," says the Hyderabad-based company in its filing.
With this transaction, total sum of securitisation completed during the current financial year 2015-16 is Rs 699.20 crore.
The company says entire pool qualifies for priority sector treatment as per Reserve Bank of India's priority sector lending guidelines. This pool rated AA (SO) by a leading rating agency, which indicates a very low credit risk.
At 10:42 hours IST, the scrip of SKS Microfinance was quoting at Rs 502.70, up Rs 8.80, or 1.78 percent on the BSE.Posted by Sunil Shankar Matkar
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