20% Upper Circuit: This stockbroking and allied company is in an uptrend on Thursday (October 16), extending its positive momentum for the second straight session by hitting the upper circuit in today’s session.
The stock of Share India Securities Ltd opened with a gap up at Rs 151, up 1.1 per cent compared to the previous close of Rs 149.35.
The counter extended its opening gains and went on to hit the day’s upper price band at Rs 179.20, up nearly 20 per cent. Trading in this small-cap stock was halted thereafter.
Today marks the second consecutive session in which its shares have shown positive momentum. Prices rose over 10 percent in the previous session, marking a gain of more than 30 per cent over the past two days.
Share India Securities Ltd is a Stockbroking & Allied company with a market capitalisation of Rs 3,921.35 crores. The company is a component of the BSE SmallCap index.
Share India Securities board approves Rs 50 crore NCD issue
The company plans to issue 5,000 secured, rated, and listed Non-Convertible Debentures (NCDs), each valued at Rs 1 lakh. These NCDs will offer an annual coupon rate of 10.5 per cent, payable monthly, and will mature in 712 days. They will be listed on the Wholesale Debt Market (WDM) segment of the BSE.
The issue is secured through a pari passu charge on loan receivables, trade securities, and current assets, further supported by personal guarantees from the promoters. Redemption will occur quarterly, with 12.5 per cent instalments.
Share India Securities is a fintech brokerage and financial services firm specialising in algorithmic trading and serving a retail investor base. The company caters to over 180,000 clients across broking, NBFC, mutual funds, and insurance sectors through a network of 369 branches.
Share India Securities share price
As of 12:00 pm, the stock price was 20 per cent higher at Rs 179.20, up Rs 29.85, on the BSE.
The prices rose by over 10 per cent in the previous session, reaching an intraday high of Rs 151.45, which represents a gain of more than 14 per cent during that session.