India's Satin Creditcare rises after units complete merger

Satin Creditcare Network

06/03/2023 05:33

** Shares of Satin Creditcare Network Ltd  SATR.NS  rise as
much as 2.3% to 137 rupees
    ** The microfinance firm on Friday said that it has
completed merger of its business correspondent unit Taraashna
Financial Services with its non-banking finance unit Satin
Finserv 
    ** About 27,700 shares change hands by 10:57 a.m. IST vs
30-day avg of 127,782 shares
    ** If gains hold, co to advance for second consecutive
session
    ** Stock continues to trade below 50-day and 100-day simple
moving average(SMA) of shares, stays above 200-day SMA
    ** Stock down about 15% so far this year, as of last close


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))