Shares of Escorts Kubota Finance Limited saw a surge of 2% during early trade on Monday after the company announced its plans to start its non-banking financial institution (NBFC) operations from November 26, 2024, without accepting public deposits.
At 9:15 AM, the stock was trading 1.44% higher at ₹3,561.00 on the NSE, reflecting investor optimism over the company’s expansion into the NBFC space.
Key Highlights:
- NBFC Business Launch:
- Escorts Kubota Finance, a wholly-owned subsidiary, is set to commence its NBFC operations by November 26, 2024.
- The company aims to strengthen its financial service offerings while operating without soliciting public deposits.
- Regulatory Compliance:
- The announcement aligns with prior intimation letters and complies with SEBI Listing Regulations and circulars.
- Market Reaction:
- The announcement was positively received by investors, with the stock witnessing an early surge.
