Company Profile

SATIN CREDITCARE NETWORK LTD.

NSE : SATINBSE : 539404ISIN CODE : INE836B01017Industry : Finance Term LendingHouse : Private
BSE93.00-3.75 (-3.88 % )
PREV CLOSE (Rs.) 96.75
OPEN PRICE (Rs.) 94.90
BID PRICE (QTY) 0.00 (0 )
OFFER PRICE (QTY) 0.00 (0 )
VOLUME 35513
TODAY'S LOW / HIGH (Rs.)91.95 97.20
52 WK LOW / HIGH (Rs.)43.07 112.65
NSE92.70 -4.2 (-4.33 % )
PREV CLOSE(Rs.) 96.90
OPEN PRICE (Rs.) 94.85
BID PRICE (QTY) 0.00 (0 )
OFFER PRICE (QTY) 0.00 (0 )
VOLUME 382704
TODAY'S LOW / HIGH(Rs.) 92.10 96.75
52 WK LOW / HIGH (Rs.)42.29 112.9

Company News

Date Heading Details
13-Apr-2021 Satin Creditcare Network initiates vaccination drive for all employees on World Health Day 2021 <P align=justify>Satin Creditcare Network has initiated vaccination drive for all its employees on World Health Day 2021. The initiative is aimed to safeguard the well-being of its employees from COVID19 which has crippled the nation. The organization will cover the vaccination cost of two mandated vaccine shots for all the employees as part of its focus on health and wellness. The vaccination will be given in stages as specified and directed by the Government of India. <P align=justify>Since the onset of the pandemic, company has given prime importance to the safety and wellbeing of each of its employees with thoughtful work from home policies, flexi-hour benefit, RT-PCR Covid Testing Kiosk, Covid Mediclaim cover, 15 days paid leave for infected employees, distribution of safety essential kits comprising of safety items like N-95 masks and medical gloves.<P align=justify>Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
13-Apr-2021 Mahindra & Mahindra, Dr. Reddy's and Vedanta to see some action today <p align="justify"><strong>Mahindra &amp; Mahindra</strong>'s (M&amp;M) all new Thar has crossed 50,000 bookings, within just six months of its launch. With its design, performance, off-road capability, everyday-comfort, technology and safety, the all-new Thar continues to attract not only die-hard enthusiasts, but urban lifestyle-seekers as well.</p><p align="justify"><strong>Dr. Reddy's Laboratories</strong> has received approval from expert panel for emergency use of Russia's covid-19 vaccine Sputnik V in the India, with certain conditions. The Drugs Controller General of India (DCGI) will take a final call on the recommendation. If approved, it will be the third covid-19 vaccine to be available in India. The vaccine would be imported from Russia for emergency use in the country.</p><p align="justify"><strong>Vedanta</strong>, India's largest producer of aluminium and its value-added products, has signed a memorandum of understanding (MoU) for value-creation from bauxite residue (red mud), which is a by-product generated during processing of bauxite into alumina using the Bayer process.</p><p align="justify"><strong>Axis Bank</strong>'s customers can now send money abroad in over 100 currencies through their mobile application. By using 'Send Money Abroad' feature in Axis Mobile App, the customers will be able to send money by following a simple two-step process given on the app.</p><p align="justify">The demerger process of <strong>NMDC</strong>'s Nagarnar Steel Plant (NSP) in Chhattisgarh into a separate entity is expected to be completed by August-September of this year. NSP is a 3 million tonne per annum (mtpa) integrated steel plant being set up by country's largest iron ore miner NMDC at Nagarnar in Chhattisgarh over an area of 1,980 acres at a revised estimated cost of Rs 23,140 crore. The demerger is in process and it is expected to be completed by August-September 2021.</p><p align="justify"><strong>Satin Creditcare Network</strong>'s Assets Under Management (AUM) has stood at Rs 7,274 crore in Q4FY21, a growth of 5.3% Quarter on quarter (QoQ), indicating that the growth has started kicking in. For FY21, the Company maintained sufficient liquidity of Rs 1,469 crore. During FY21, the Company raised Rs 4,312 crore including Direct Assignment Transactions of Rs 743 crore.</p><p align="justify">Markets regulator Sebi has imposed a penalty of Rs 25 crore on <strong>Yes Bank</strong> in the matter of misselling the lender's AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of violation.<br></p>
12-Apr-2021 Satin Creditcare Network's AUM stands at Rs 7,274 crore in Q4FY21 <p align="justify">Satin Creditcare Network's Assets Under Management (AUM) has stood at Rs 7,274 crore in Q4FY21, a growth of 5.3% Quarter on quarter (QoQ), indicating that the growth has started kicking in. For FY21, the Company maintained sufficient liquidity of Rs 1,469 crore. During FY21, the Company raised Rs 4,312 crore including Direct Assignment Transactions of Rs 743 crore.<p align="justify">During FY21, the Company successfully completed its Rights Issue of Rs 120 crore to strengthen the capital base. Out of this, Rs 90 crore is already received by the Company.<p align="justify">Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.</p>
18-Mar-2021 Satin Creditcare Network's Promoters reduce pledge percentage to 3.09% <p align="justify">The promoters of Satin Creditcare Network (SCNL) have reduced the pledge percentage of company from 8.9 per cent on July 16 last year to 3.09 per cent now. The promoters hold 2.75 crore equity shares on a fully diluted basis of which 8.5 lakh equity shares are pledged. This amounts to 3.09 per cent of the company's holding and 1.18 per cent of total equity paid-up capital.</p><p align="justify">Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.<br></p>
12-Mar-2021 Satin Creditcare reaffirms sustainability commitment by reducing carbon emissions of 207 tons in 18 months <p align="justify">Satin Creditcare Network has reaffirmed its commitment as an environment conscious and responsible organization towards the reduction of carbon emission. The company has been successful in reducing emissions of 207 tons of CO2 into the environment, empowering 93,181 households and 447,269 individuals with clean energy till December 2020. </p><p align="justify">Satin Carbon Program was eventually incorporated as a part of the UNFCCC Clean Development Program (CDM). The company aims at expanding and improving its clean energy program with thoughtful climate mitigation and planet conservation initiatives. In past, MicroEnergy Credits (MEC) had certified the company for its efforts in April 2020. The company's clean energy lending solutions include solar products like a torch, home system, and lights. </p><p align="justify">Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.<br></p>
12-Mar-2021 Satin Creditcare Network informs about press release <p align="justify">Satin Creditcare Network has informed that it has enclosed a copy of Press Release dated March 12, 2021 titled ‘Satin Creditcare Network Ltd reaffirms its sustainability commitment by reducing carbon emissions of 207 tons in 18 months'.</p><p align="justify">The above information is a part of company's filings submitted to BSE.<br></p>
04-Mar-2021 Satin Creditcare re-certified as Great Place to work second year in row <P align=justify>Satin Creditcare Network has been re-certified as Great Place to work second year in a row. This certification solidifies the company's commitment to provide an environment where employees can thrive and excel in their careers and better serve customers. Every year, more than 10,000 organizations from over 60 countries partner with Great Place to Work Institute for assessment, benchmarking, and planning actions to strengthen their workplace culture. <P align=justify>The achievement substantiates the company's commitment to building an amazing workplace culture and future together with their employees. The employees have a consistently positive experience with their co-workers and leaders and find personal satisfaction in their respectable jobs.<P align=justify>Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
04-Mar-2021 Satin Creditcare shines on the bourses <p align="justify">Satin Creditcare Network is currently trading at Rs. 107.15, up by 0.85 points or 0.80% from its previous closing of Rs. 106.30 on the BSE.<p align="justify">The scrip opened at Rs. 102.95 and has touched a high and low of Rs. 109.45 and Rs. 102.95 respectively. So far 59192 shares were traded on the counter.<p align="justify">The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 166.44 on 05-Mar-2020 and a 52 week low of Rs. 43.07 on 20-May-2020.<p align="justify">Last one week high and low of the scrip stood at Rs. 109.45 and Rs. 81.90 respectively. The current market cap of the company is Rs. 777.46 crore.<p align="justify">The promoters holding in the company stood at 38.21%, while Institutions and Non-Institutions held 19.89% and 41.90% respectively.<p align="justify">Satin Creditcare Network has been re-certified as Great Place to work second year in a row. This certification solidifies the company's commitment to provide an environment where employees can thrive and excel in their careers and better serve customers. Every year, more than 10,000 organizations from over 60 countries partner with Great Place to Work Institute for assessment, benchmarking, and planning actions to strengthen their workplace culture.<p align="justify">The achievement substantiates the company's commitment to building an amazing workplace culture and future together with their employees. The employees have a consistently positive experience with their co-workers and leaders and find personal satisfaction in their respectable jobs.<p align="justify">Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.</p>
04-Mar-2021 Announcement under Regulation 30 (LODR)-Press Release / Media Release Satin Creditcare Network Limited has informed the Exchange regarding a press release dated March 04, 2021, titled "Re-certified as Great Place to Work second year in a row".
01-Jan-2021 Bharat Dynamics, JSPL and Shashijit Infraprojects to see some action today <p align="justify"><strong>Bharat Dynamics</strong> (BDL), the manufacturer of Akash Missile, is geared up to take up export order. Given the export potential and demand of Akash in the international market, the company has been promoting the product at various forums including national and international exhibitions. The missile being offered for exports will be of a different version. The company is already supplying Torpedoes to a foreign country.</p><p align="justify"><strong>Jindal Steel &amp; power's</strong> (JSPL) subsidiary -- Jindal Power has been declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal. Jindal Power won an auction for Gare Palma IV/1 coal mine at 25% bid premium of the representative price.&nbsp; </p><p align="justify"><strong>Shashijit Infraprojects</strong> has been awarded contract for construction of ETP Tank, UG Water Tank, Foundations, Road Work along with other miscellaneous civil work from Kasyap Sweetners, a well reputed company from Mumbai, Maharashtra at their Vapi unit, Gujarat. The approximately value of the project is Rs 300-500 lakh. Project is likely to start by the first week of January, 2021. Mobilization of machinery and man power will start soon.</p><p align="justify"><strong>Jubilant Foodworks</strong> (JFL) has declared an investment of Rs. 92 crore into Barbeque-Nation Hospitality (BNHL) for an equity stake of 10.76%. Towards this end, the Company has entered into a Share Subscription Agreement to acquire equity shares and a Restated Shareholders' Agreement to regulate the rights and obligations of BNHL's key shareholders.</p><p align="justify"><strong>Garden Reach Shipbuilders</strong> <strong>and Engineers</strong> (GRSE) has commenced production of the first of the eight Anti-Submarine Warfare Shallow Water Crafts for the Indian Navy. The contract for the construction of the eight ships at a cost of Rs 6,311 crore was signed with the Navy in April 2019. The compact and complex stealth crafts will be packed with state-of-the-art weapons and sensors like hull mounted sonar, towed sonar, torpedo launchers and rocket launcher to interdict and destroy sub-surface targets in coastal waters. </p><p align="justify"><strong>Satin Creditcare Network</strong> has raised Rs 150 crore and allotted Rated, Listed, Senior, Redeemable, Taxable Non-Convertible Debentures (NCDs) having face value of Rs 10,00,000 each on Private Placement Basis. NCDs will be redeemed on June 30, 2022.&nbsp; The Working Committee of the company vide their resolution dated December 31, 2020 has allotted the same. </p><p align="justify"><strong>RITES</strong> has received approval from board of directors for acquiring 13% stake i.e. 1573 equity shares of Rs 10 each of Elicius Energy and signing of the agreement with it. The company is supporting the startup in development of tubular PEM Hydrogen Fuel Cell Stack of 500-1000 watt capacity and in order to guide the above developmental project.<br></p>