Sanasa share peaks to Rs. 770, Commercial Leasing dips by 40%

Wednesday, 6 June 2012 01:08 - - {{hitsCtrl.values.hits}}

Despite the market suffering a near 3% dip, debutants Sanasa Development Bank fared well whilst Commercial Leasing and Finance drew activity though losing value.

Sanasa which saw its shares trade for the first time yesterday though listed on Main Board last week, opened at Rs. 375 whilst touching a high of Rs. 770 and a low of Rs. 360 before closing at Rs. 125, unchanged from its reference price. Only 204 shares of Sanasa traded. Yesterday’s debutant Commercial Leasing with a reference price of Rs. 5 saw a number of large trades with a cumulative volume of 3.75 million shares changing hands. It started at Rs. 5.30 which was also its highest and closed at Rs. 3, down by Rs. 2. Despite losing 40% in value, Commercial Leasing on debut joined the top 20 most valuable league with a market capitalization of Rs. 19.1 billion or 1.05% of the total. Commercial Leasing, which posted a profit before tax of Rs. 3.2 billion in FY12 was also way above its parent LOLC which was placed 30th yesterday with a market capitalisation of Rs. 13.59 billion.

Both debutants were listed via introductions whilst tomorrow Orient Financial Services Corporation Ltd., will go on the Diri Savi Board.