Srei Infrastructure rises on the buzz of acquiring Jharkhand power project

SREI Infrastructure Finance is currently trading at Rs. 40.25, up by 0.35 points or 0.88% from its previous closing of Rs. 39.90 on the BSE. The scrip opened at Rs. 40.35 and has touched a high and low of Rs. 40.95 and Rs. 39.70 respectively. So far 93460 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 47.70 on 21-May-2014 and a 52 week low of Rs. 17.45 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 47.05 and Rs. 37.40 respectively. The current market cap of the company is Rs. 2050.08 crore. The promoters holding in the company stood at 48.77% while Institutions and Non-Institutions held 12.10% and 39.12% respectively. Srei Infrastructure Finance is reportedly planning to acquire Abhijeet Group’s 1,080 megawatt (MW) Jharkhand power project, valued at around Rs.9,000 crore. In a separate development, the Reserve Bank of India (RBI) had earlier authorized company to set up White Label ATMs (WLAs) in the country. SREI Infrastructure Finance’s businesses include infrastructure equipment leasing and finance, infrastructure project finance, advisory and development, insurance broking, venture capital, capital market and Sahaj e-Village.