Satin Credit looks smooth

about 7 months ago
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Satin Creditcare is among the top five gainers on the BSE since morning today. The stock opened but soon jumped up to an intraday high at Rs.91.65, up over 9.5%. Its 20% UC is at Rs.100.35.

The stock is seeing positivity on its counter ever since it Board approved raising Rs 225 crore on Monday. The company said that it will use these funds to generate 15-20% year-on-year growth in its assets under management (AUM) in 2022-23 while it will be just around 6-8%in FY22.

Satin Creditcare’s AUM stood at Rs 7,381 crore, down 3.7% (YoY). Of this, 9.7% comprised of non-microfinance loans.

The company said that in terms of collections, it was back to pre-Covid levels, with no major disruptions and expects it to stay around 97-98%.

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