Bharat Financial Inclusion continues to flow free

The markets on the last day of 2016 are trading strong with Sensex as at 9.55 am being up by 204 points. Meanwhile, Bharat Financial Inclusion continues to gain on an intraday basis. The stock which on December 29 closed at Rs 598, on December 30 opened one per cent higher and as at 9.57 am is trading at Rs 618.20, up by three per cent.

According to information released by the company to the media on  December 28, Morgan Stanley Asia (Singapore) and Morgan Stanley Mauritius have increased stake in the company by 1.09 per cent to 7.86 per cent on  December 23, 2016. Morgan Stanley Asia (Singapore) and Morgan Stanley Mauritius have purchased 15.16 lakh shares, or 1.09 per cent stake in BFI.

Volumes in the stock are being witnessed as Morgan Stanley has increased its stake. Since December 28, the stock is up by eight per cent. In the last one year, the scrip has given a return of 25 per cent. However, as compared with the last three months the stock is down by 30 per cent. Fifty-two-week high/low stands at Rs 938.75/435.