Stay updated on the latest stock market movements! Bharat Electronics secures a ₹2,463 crore defense contract, NTPC Green commissions the final phase of its Shajapur Solar Project, and Jubilant Pharmova gets a key USFDA update. Plus, major developments from Satin Creditcare, BEML, and Zydus Lifesciences. Watch now for all the key highlights!
While banks have slowed down on lending, foreign DFIs (development finance institutions) continue to lend to the microfinance sector, albeit selectively, said HP Singh
The microfinance lender is targeting a 25 percent growth in assets under management in the current financial year, said HP Singh.
The board meeting of board of directors of Satin Creditcare Network to be held on January 8, 2024 to consider fund raising.
The company did not specify the date or the floor price of the proposed fundraise. The management also did not say how it plans to use the proceeds
The tenue of the instrument, date of allotment and date of maturity will be determined by the Committee for each Tranche at the time of finalization of the terms of such Tranche.
The microfinance lender had posted net loss of Rs 71 crore a year ago.
Satin Creditcare said it raised Rs 1,428 crore incremental funds during the quarter and undrawn sanctions worth Rs 1,412 crore.
For the full financial year, the net profit of Satin Credit grew 169 per cent to Rs 201 crore, compared to Rs 75 crore in the preceding fiscal.
SCNL had posted a net profit of Rs 73.35 crore in the corresponding July-September period of the previous fiscal.
Revenue during April-June 2018 rose 32.3 per cent to Rs 336 crore, Satin Creditcare said in a statement.
Centrum Research is bullish on Satin Creditcare has recommended buy rating on the stock with a target price of Rs 590 in its research report dated May 31, 2018.
Satin Creditcare Network (SCNL) provides collateral free, micro-credit loans to economically active women in rural and semi-urban areas, individual businesses, MSMEs, among others. The company has created a wholly owned subsidiary in April this year to enter housing finance business.
The board of directors of the company will seek approval of shareholders at the upcoming annual general meeting on July 6.
Satin Creditcare gives out loans only to other agri credit segments, and not for farm loans.
In an interview to CNBC-TV18’s Latha Venkatesh, Anuj Singhal, and Sonia Shenoy, SP Tulsian of sptulsian.com shared his readings and outlook on market and specific stocks.
HP Singh, Founder & MD of Satin Creditcare says that the re-classification done by RBI is not a repayment holiday.