Spandana Sphoorty declines for 2nd day; up over 69% in three months

7 Sep 2022 , 12:50 PM

The stock has declined by 6.29% in two sessions, from its recent closing high of Rs 624 recorded on 5 September 2022. In the past three months, the stock has zoomed 69.03% while the benchmark Sensex has added 7.20% during the same period. On the technical front, the stocks daily RSI (relative strength index) stood at 72.386. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 458.74, 425.67 and 413.85, respectively. In an exchange filing made during market hours today, Spandana Sphoorty Financial said that its board has approved the issuance of 400 secured, senior, redeemable, transferable, listed, principal protected, market linked, rated, non-convertible debentures of face value of Rs 10 lakh each, aggregating up to Rs 40 crore on a private placement basis. The NCD issue has a green shoe option of up to Rs 20 crore, the micro financier said. Spandana was incorporated in 2003 as an NBFC after it took over the microfinance operations of a non-governmental organisation started by Padmaja Reddy in 1998. The company was classified as an NBFC – microfinance institution in 2015. As on 30 June 2022, Spandana had operations in 18 states/union territories spanning across 300 districts with AUM outstanding of Rs 5,510 crore. Powered by Capital Market – Live News