Satin Creditcare Surges 2% After Hike In Foreign Investment Limit

Satin Creditcare Network on Tuesday was trading higher by 2.2% to Rs 289.40 per share at 1225 hours IST on BSE. The Reserve Bank of India on Monday notified increasing the foreign investment limit in the company from 24% earlier to 49%.

Satin Creditcare Network hit a high of Rs 294.05 and a low of Rs 284 so far during the day. The market capitalisation of the company is Rs 1131.70 crore.

The stock has underperformed both BSE small-cap and Nifty Financial Services over a period of one year. Its closest peers are SPS Finquest and Tourism Finance Corporation.

Satin Creditcare Network Limited is a non-deposit accepting microfinance non-banking financial company, which is engaged in microfinance activities. The company offers loans to individual businesses; loans to micro, small and medium enterprises (MSMEs).

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