SBFC Finance jumps to hit record high on heavy volumes

SBFC Finance

23/09/2024 10:19

* SBFC Finance Ltd  SBFC.NS  rises to exchange-allowed
trading maximum of 20% at 105.81 rupees, hits record high 
    * 104.7 mln shares traded overall, 47.8X the 30-day avg 
    * Records single-session gains, highest trading volumes
since listing on Aug. 16, 2023
    * ICRA upgrades credit rating of co's long-term bank
facilities to 'AA-' from 'A+', with a 'stable' outlook
    ** Rating upgrade factors in co's good capitalisation
supported by a recent capital raise, and improving profitability
metrics
    * Relative strength index rises to 84.4, suggesting stock
might be overbought - LSEG data
    * Stock up ~18% YTD vs ~25% gains in NIFTY 500 index
 .NIFTY500  
 

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))