SREI Infrastructure share price hits 10% upper circuit on BSE

Srei Infrastructure Finance Limited is an infrastructure finance company. The Company is engaged in the business of financing…

Srei Infrastructure Finance Limited is an infrastructure finance company. The Company is engaged in the business of financing of companies or of providing infrastructural facilities. Shares of SREI Infrastructure surged to hit their 10 percent upper circuits at Rs 5.61 on BSE in the morning trade on June 4.

A day earlier, Fidelity Investment Trust’s Fidelity Series Emerging Markets Fund sold 54,00,000 shares of SREI Infrastructure Finance at Rs 5.05 per share in a bulk deal. The stock logged strong gains of 10 percent on June 3.

The stock has been closing in the green since June 1.

The Kolkata-based firm recently decided to exit the infrastructure business, citing adverse industry situation in a slowing economy.

In an exclusive interview to Moneycontrol, Srei Infrastructure Finance chairman Hemant Kanoria said, “We were witnessing a silent recovery in demand for equipment before the outbreak of COVID-19. We are confident that when the situation becomes normal, the demand for equipment will pick up with the awarding of new EPC contracts.”

“We continue to enjoy strong relationships with our customers, have a dominant presence in high-growth businesses like equipment finance and have managed our liquidity well.”

The stock traded 9.80 percent up at Rs 5.60 on BSE at around 1040 hours.

Total
0
Shares
Related Posts