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Stock Report
Satin Creditcare Ventures into Nagaland with the opening of its First Branch
Posted On : 2024-06-24 15:53:33( TIMEZONE : IST )
Satin Creditcare Network Limited (SCNL), Satin Creditcare Network Limited (SCNL), a leading microfinance institution in India, marks its presence in Nagaland with the opening of its first branch in Dimapur, taking its total count of states and union territories to 27. This historic move establishes SCNL as the first leading MFI to enter the state, aiming to bolster financial inclusion and drive economic development nationwide. With SCNL's debut in Nagaland, its presence now extends to six states in the Northeast region.
With operations spanning across 1,393 branches, SCNL remains steadfast in its commitment to serving rural and semi-urban regions, ensuring that its services penetrate deep into areas where credit access is typically limited or moderate. The Company has played an eminent role in rural growth, as evidenced by 76% of its operations being focused on rural India and its presence in 89,000 villages. This latest venture into the Nagaland market will help cater to the growing demand from underserved poor communities in the state.
Commenting on this development, Mr. Anil Kwatra, Chief Business Officer of Satin Creditcare Network Limited, said, "We are thrilled to announce our expansion into the 27th state, Nagaland. This milestone marks a significant step forward in our mission to extend our inclusive charter and enhance the quality of life for communities across the Northeast region. This move not only underscores our commitment to making a meaningful impact but also solidifies our position as a truly pan-Indian Company. We remain steadfast in our dedication to driving economic growth and development in every region we serve."
Shares of Satin Creditcare Network Limited was last trading in BSE at Rs. 241.45 as compared to the previous close of Rs. 245.55. The total number of shares traded during the day was 41852 in over 1052 trades.
The stock hit an intraday high of Rs. 248.50 and intraday low of 239.45. The net turnover during the day was Rs. 10143859.00.
