Business Daily from THE HINDU group of publications
Thursday, Jan 11, 2007
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Business Daily from THE HINDU group of publications Thursday, Jan 11, 2007 ePaper |
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Stock Markets Markets - Stocks Columns - Ear to the ground
The Srei stock is being viewed in the context of the company's decision to increase its benchmark lending rate by 50 bps to 11.5 per cent. The hike, which came into effect on January 1, is said to be in anticipation of a possible increase in its cost of funds. Brokers are also generally referring to the demand in the country for construction equipment required for infrastructure development. Srei may well pass on the increased cost of borrowing to clients, it is felt. Reference is further being made to the fact that while the company had increased its benchmark rate by 100 bps in July 2006, its financing asset book grew substantially in the first half of fiscal 2007. On Wednesday, the Rs 10-face value stock closed at Rs 52.65. Roughly 2.45 lakh shares made up the volumes on the NSE.
Nilanjan Dey
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