SKS Microfinance gains over 2% on fund raising plans

SKS Microfinance gains over 2% on fund raising plans
Shares of micro lender SKS Microfinance spurted over 2 per cent in early trade on Bombay Stock Exchange (BSE) after company unveiled plans to raise up to Rs. 400 crore.

The company's board on Tuesday also approved its 'SKS Microfinance 3.0' plan for "reinvention" and realigning the management structure. Five key executives were elevated as part of this effort.

Buoyed by development, shares of company gained as much as 2.51 per cent to trade at Rs 183.75 a piece on the BSE.  In a similar fashion, shares of the company advanced 0.34 per cent to Rs 179.20 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,117.88, down 143.15 points or 0.71 per cent at 10:35 hours.

Dion Global Solutions Ltd.

Story first published: Thursday, February 6, 2014, 12:47 [IST]
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