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Bharat Financial Inclusion gains after Morgan Stanley hikes stake

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by December 28, 2016 General

Financial Inclusion rose 5.21% to Rs 546 at 9:59 on after the company said Morgan Stanley (Singapore), Morgan Stanley Mauritius Company increased stake in the company by 1.09% to 7.86% on Friday, 23 December 2016.

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the Sensex was down 120.59 points, or 0.46%, to 26,334.03.

On the BSE, so far 3.62 lakh shares were traded in the counter, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 548 and a low of Rs 531 so far during the day.

The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 435 on 21 January 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 23.74% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.94% as against Sensex’s 7.35% decline.

The mid-cap company has equity capital of Rs 137.93 crore. Face value per share is Rs 10.

Morgan Stanley (Singapore), Morgan Stanley Mauritius Company purchased 15.16 lakh shares, or 1.09% stake, in Financial Inclusion on Friday, 23 December 2016. Post acquisition, the total stake of Morgan Stanley (Singapore), Morgan Stanley Mauritius Company increased to 7.86% in Financial Inclusion.

Financial Inclusion’s net profit rose 87.4% to Rs 145.88 crore on 37.4% increase in operating income to Rs 411.37 crore in Q2 September 2016 over Q2 September 2015.

Financial Inclusion is among the largest microfinance companies in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Bharat Financial Inclusion gains after Morgan Stanley hikes stake

Bharat Financial Inclusion rose 5.21% to Rs 546 at 9:59 IST on BSE after the company said Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company increased stake in the company by 1.09% to 7.86% on Friday, 23 December 2016.

Financial Inclusion rose 5.21% to Rs 546 at 9:59 on after the company said Morgan Stanley (Singapore), Morgan Stanley Mauritius Company increased stake in the company by 1.09% to 7.86% on Friday, 23 December 2016.

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the Sensex was down 120.59 points, or 0.46%, to 26,334.03.

On the BSE, so far 3.62 lakh shares were traded in the counter, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 548 and a low of Rs 531 so far during the day.

The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 435 on 21 January 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 23.74% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.94% as against Sensex’s 7.35% decline.

The mid-cap company has equity capital of Rs 137.93 crore. Face value per share is Rs 10.

Morgan Stanley (Singapore), Morgan Stanley Mauritius Company purchased 15.16 lakh shares, or 1.09% stake, in Financial Inclusion on Friday, 23 December 2016. Post acquisition, the total stake of Morgan Stanley (Singapore), Morgan Stanley Mauritius Company increased to 7.86% in Financial Inclusion.

Financial Inclusion’s net profit rose 87.4% to Rs 145.88 crore on 37.4% increase in operating income to Rs 411.37 crore in Q2 September 2016 over Q2 September 2015.

Financial Inclusion is among the largest microfinance companies in India.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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