PTC India Financial Services share price jumped 3% intraday on  July 3 after State Bank Of India sanctioned a term load-WC augmentation of Rs 300 crore.

The stock, which has surged more than 69% in the last three months, was trading at Rs 13.65, up Rs 0.45, or 3.41% at 09:36 hours. It has touched an intraday high of Rs 13.84 and an intraday low of Rs 13.52.

SBI sanctioned TLWC of Rs 300 crore with a door-to-door tenor of three years, including a moratorium of six months, with sublimity of Rs 300 crore as investment limit for investment in CPs/NCDs/Bonds within the overall TLWC limit, the company said in an exchange filing.

The money would be used to strengthen the cash flow of the company and for onward funding to sustainable infrastructure finance projects, it said. "SBI has already given credit lines of Rs 1,400 crore (current outstanding of around Rs 999.74 crore) to us and now with a current sanction, their exposure will increase to Rs 1,700 crore and it will further diversify our sources of borrowings. PFS proposes to have further alternative sources of financing like ECB, commercial paper, bonds, etc. for which advance progress has already been made, "the company said.

Shareholding details: 

Promotors held a 64.99% stake in the company and there is no pledge as of 31-March-2020, while FIIs owned 1.52% and DIIs 2.38% and public holding 31.11%.