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Srei to fund used equip sector

In order to release capital for lending to used construction equipment and other purposes, Srei Equipment Finance plans to securitise Rs 800-900 crore of its assets during the current quarter, reports suggest. The company will focus on financing used construction equipment because growth in sale of construction equipment is slowing. Srei feels that used equipment financing has low credit risk and will help the company garner better margins.

Snippets

Bldg equip sector hit Slowdown in the infrastructure segment on the back of sluggish economy has been pulling down the growth of mining and construction industry, and the segment is likely to see a double digit decline in volumes during this calendar year, compared with 2011.

Elec equip sector growth at 16.6%

The Indian electrical equipment manufacturing industry registered a growth of 16.6 per cent during Q1 of FY 2011-12, maintaining almost the same quarter of 2010-11 which stood at 16.73 per cent.

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