NIFTY WEEKLY RANGE FOR THE WEEK 16TH SEP --
20TH SEP 5735 -- 5962. Either Side Sustaining Will Give 100 Points More, HIGH
5957.25, LOW 5798.15, CLOSED 5899.45 ! |
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Stock
Updates |
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Volumes
jump at 3M India counter, Mindtree, Bharat Forge and SKS Microfinance are
among the other stocks to see a surge in volumes on BSE today, 18 September
2013. |
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M
India clocked volume of 20,000 shares by 12:28 IST on BSE, a 15.78-times
surge over two-week average daily volume of 1,299 shares. The stock rose
1.27% to Rs 3,076. |
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Mindtree
notched up volume of 1.58 lakh shares, a 13.26-fold surge over two-week
average daily volume of 12,000 shares. The stock rose 2.89% to Rs 1,112.85
after hitting a record high of Rs 1,113.85 earlier today, 18 September 2013. |
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Bharat
Forge saw volume of 25.16 lakh shares, a 2.48-fold surge over two-week
average daily volume of 10.15 lakh shares. The stock rose 0.57% to Rs 264.10. |
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SKS
Microfinance clocked volume of 3.72 lakh shares, a 1.78-fold surge over
two-week average daily volume of 2.09 lakh shares. The stock spurted 9.41% to
Rs 135.40 after the company said that a leading rating agency has assigned
'A' rating for its long-term and 'A1' rating for its short-term bank
facilities for an aggregate sum of Rs 2000 crore. |
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According
to the rating agency, instruments with 'A' rating are considered to have
adequate degree of safety regarding timely servicing of financial obligations
and carry low credit risk. Instruments with 'A1' rating are considered to
have very strong degree of safety regarding timely payment of financial
obligations and carry lowest credit risk, SKS said. SKS Microfinance's
borrowings as of 31 August 2013 stood at Rs 1675 crore. |
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SKS
Microfinance said that the ratings are significant in view of the fact that
the company has sustained and completed its turnaround in Q1 FY 2014 with
three consecutive quarters of profit. During the Andhra Pradesh situation,
the company had repaid Rs 5800 crore to the banking system without any
rescheduling or deferral or haircut. As of 30 June 2013, the company had a
capital adequacy ratio of 30% and cash and bank balance of Rs 310 crore.
Collection efficiency of the non-Andhra Pradesh portfolio is at 99.8% in Q1
FY 2014, SKS said. |
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COURTESY :
CAPITAL MARKET |
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