Reaction to RBI's announcement by Mr. Shachindra Nath, Executive Chairman at UGRO Capital

"The Central Bank's decision to earmark 50% of the TLTRO 2.0 for mid and small level NBFC will ensure broader liquidity transmission in the NBFC sector. The cut in the reverse repo rate, NABARD, SIDBI, and NHB refinancing will boost the credit flow from the banking institutions to NBFCs. The ultimate beneficiary of the decision will be the SMEs which fulfill their working capital requirement from the mid-level and small-level NBFCs, especially if the focus of such measure is to ensure liquidity support to NBFCs looking to raise debt capital for increasing disbursals as opposed to those that need capital to meet liquidity shortfalls."

Shares of Ugro Capital Ltd was last trading in BSE at Rs.110 as compared to the previous close of Rs. 108.25. The total number of shares traded during the day was 1825 in over 10 trades.

The stock hit an intraday high of Rs. 113.25 and intraday low of 110. The net turnover during the day was Rs. 204825.

Source : Equity Bulls

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