Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

SREI Infrastructure share price hits 10% upper circuit on BSE

The Kolkata-based firm recently decided to exit the infrastructure business, citing adverse situation in a slowing economy.

June 04, 2020 / 10:53 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of SREI Infrastructure surged to hit their 10 percent upper circuits at Rs 5.61 on BSE in the morning trade on June 4.

A day earlier, Fidelity Investment Trust's Fidelity Series Emerging Markets Fund sold 54,00,000 shares of SREI Infrastructure Finance at Rs 5.05 per share in a bulk deal. The stock logged strong gains of 10 percent on June 3.

The stock has been closing in the green since June 1.

The Kolkata-based firm recently decided to exit the infrastructure business, citing adverse industry situation in a slowing economy.

In an exclusive interview to Moneycontrol, Srei Infrastructure Finance chairman Hemant Kanoria said, "We were witnessing a silent recovery in demand for equipment before the outbreak of COVID-19. We are confident that when the situation becomes normal, the demand for equipment will pick up with the awarding of new EPC contracts."

"We continue to enjoy strong relationships with our customers, have a dominant presence in high-growth businesses like equipment finance and have managed our liquidity well."

The stock traded 9.80 percent up at Rs 5.60 on BSE at around 1040 hours.

Moneycontrol News
first published: Jun 4, 2020 10:53 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347