Transcorp International soars on getting in-principle RBI authorization for semi closed PPI service

23 Mar 2016 Evaluate

Transcorp International is currently trading at Rs. 51.25, up by 1.25 points or 2.50% from its previous closing of Rs. 50.00 on the BSE.

The scrip opened at Rs. 51.25 and has touched a high and low of Rs. 51.25 and Rs. 51.25 respectively. So far 60 shares were traded on the counter.

The BSE group 'XD' stock of face value Rs. 10 has touched a 52 week high of Rs. 76.95 on 15-May-2015 and a 52 week low of Rs. 34.05 on 23-Mar-2015.

Last one week high and low of the scrip stood at Rs. 51.25 and Rs. 49.00 respectively. The current market cap of the company is Rs. 25.43 crore.

The promoters holding in the company stood at 73.22% while Institutions and Non-Institutions held 0.02% and 26.77% respectively.

Transcorp International, a leading forex and money transfer firm, has received the in-principle authorisation from the Reserve Bank of India (RBI) for running ‘semi closed pre-paid payment instruments (PPI)’ service. Semi-Closed PPI are payment instruments which can be used for purchase of goods and services, including financial services at a group of clearly identified merchant locations/ establishments which have a specific contract with the issuer to accept the payment instruments. Apart from this payment wallets can also be created. These instruments do not permit cash withdrawal or redemption by the holder. Post getting final approval from the RBI, the company will be able to issue and operate the said payment instruments and create the payment wallets including mobile wallets.

Transcorp is one of the leading principal agents of Western Union with having more than 40 own locations and a franchisee network of more than 7,500 throughout the country. It is also an authorized dealer category II licensed by RBI and providing money changing service from 21 of its own locations.

 

Transcorp Intl. Share Price

34.19 -0.19 (-0.55%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
IRCTC 809.30
Transcorp Intl. 34.19
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