SREI Infra share stuck in 5% lower circuit post Q4 loss

SREI Infra share was stuck in lower circuit since early trade today after net loss widened to Rs 3,555 crore for the March quarter from Rs 69 crore in the year ago period.

Share of SREI Infra has fallen 9.69% in two days.

SREI Infra stock trades  higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The stock opened 5% lower at Rs 12.86 and has been stuck in lower circuit since then.

 The stock has gained 47.14% in one year and risen 94.85% since the beginning of this year.

 In a month, the stock has climbed 78.61%.

 Market cap of the firm fell to Rs 646 crore on BSE. Total 2.73 lakh shares changed hands amounting to turnover of Rs 35.07 lakh on BSE.

Interest income nearly halved to Rs 581 crore from Rs 1075 crore over the same period with fall in businesses amid the pandemic.

The group's annual loss came at Rs 7,338 crore for FY21 against Rs 89 crore net profit in the preceding fiscal. Total income for the year fell to Rs 3,488 crore against Rs 6120 crore on consolidated assets under management of Rs 39,498 crore.

The company's board has approved a resolution to raise up to Rs 2,500 crore through various means, including qualified institutional placement.

The company plans to raise capital by way of one or more instruments - through public offer, qualified institutional placement (QIP), private placement, preferential issue or rights issue of shares.

"The board of directors in...meeting today passed a resolution to raise up to Rs 2,500 crore," Srei Infrastructure Finance said.

Earlier to this, its subsidiary Srei Equipment Finance Ltd (SEFL) attracted a total investment proposal of Rs 4,200 crore from the US- and Singapore-based investors.