India's IndoStar Capital up on selling part of corporate loan book

IndoStar Capital Finance

28/08/2023 07:29

** Shares of IndoStar Capital Finance  INAC.NS  rise as much
as 5%, on track for sharpest daily pct gain since Nov. 23, 2022
    ** INAC on track for second consecutive session of gains if
gains hold
    ** Non-banking finance co on Friday said it sold a
significant portion of its corporate loan book to Phoenix ARC,
aggregating to dues outstanding of 9.15 bln rupees ($110.8 mln)
    ** Around 130,000 shares change hands as of 11:51 a.m. IST,
0.8x 30-day average
    ** Stock up 12.5% YTD as of last close

($1 = 82.5750 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))