The shares of this leading small finance bank that serve unbanked and underbanked customers came into focus in Tuesday’s trading session after the promoter purchased over 1.5 lakh shares in the company.
Stock Performance
With a market capitalization of Rs 1,108.55 crore, Suryoday Small Finance Bank Ltd gained more than 7 percent and made an intraday high of Rs 105.75 per share compared to its previous closing price of Rs 98.90 per share. The shares reiterated from the day’s high and were trading at Rs 104.30 which is 5 percent higher than the previous close.
What Happened
Mr Baskar Babu Ramachandran, the Promoter and Managing Director & CEO of the Bank, has purchased 1.5 lakh equity shares from the open market. Following the transaction, the Promoter Group’s total stake in the bank will increase to 22.44 percent from 22.30 percent. Likewise, Mr. Ramachandran’s individual holding will rise to 5.18 percent from 5.04 percent.
Company Overview
Suryoday Small Finance Bank Ltd offers various loans, including vehicle, microfinance, home, MSME, and business loans. The bank provides savings and current accounts, NRI deposit options and fixed deposits. Additionally, it offers life and general insurance, pension schemes, and social security programs like PM Jeevan Jyoti Bima Yojana and Atal Pension Yojana.
Financial Performance
When looking at the financials, the company reported a 19 percent growth in revenue from Rs 411 crore in Q3 FY24 to Rs 488 crore in Q3 FY25. The net profits however, declined 42 percent from Rs 57 crore to Rs 33 crore during the same period.
Written by Shwetha Sairam
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
