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Bharat Financial Shares Gain On Completion Of Securitization
Shares of Bharat Financial rose on Friday after the company said that it has completed a securitization transaction of Rs 108 crore. Including this, the Company has completed three securitization transactions aggregating to Rs.852.44 crore in FY17.
Bharat Financial inclusion was formerly known as SKS Microfinance Limited.
" The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of India's Priority Sector lending guidelines", the company said.
The pool has been rated AA (SO) by a leading rating agency, signifying a 'high degree of safety regarding timely servicing of financial obligations'. Such instruments carry very low credit risk, Bharat Financial Services said in a release.
Shares of Bharat Financial were seen trading at Rs 777, higher by 1.95 per cent on BSE at 1.10 om IST. It touched an intra-day high of Rs 789 during trade.
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