{"id":81336,"date":"2023-01-04T17:00:00","date_gmt":"2023-01-04T11:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=81336"},"modified":"2023-01-04T16:14:55","modified_gmt":"2023-01-04T10:44:55","slug":"bank-stock-reaches-52-week-high-as-sbi-funds-management-acquires-9-99-stake-in-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-reaches-52-week-high-as-sbi-funds-management-acquires-9-99-stake-in-it\/","title":{"rendered":"Bank stock reaches 52-week high as SBI Funds management acquires 9.99% stake in it\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2657770831\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Equitas Small Finance Bank opened 5 percent higher at Rs 62 as against its previous close of Rs 59.35. It further zoomed by 2 percent to scale up to a new 52-week high of Rs 63.90. The shares zoomed after the SBI Funds management got approval from the Reserve Bank of India to acquire a stake in the bank.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3678113656\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>As per the BSE filing, the RBI has allowed SBI Funds Management to acquire shares up to 9.99% of the paid-up equity capital of the bank. The fund management is set to acquire a stake in the bank through multiple schemes.&nbsp;<\/p><p><a href=\"https:\/\/portal.tradebrains.in\/stock\/EQUITASBNK\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Equitas Small Finance Bank<\/strong><\/a> is among the largest small finance banks in India which has a diversified loan portfolio and less dependence on microfinance business.\u00a0<\/p><p>The promoter of the bank, Equitas Holdings Limited has a 74.5 percent stake in the company. In addition to that, various mutual funds schemes and insurances hold a total of 15.35 percent stake in the bank.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1500413867\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Last year, the bank announced a reverse merger with its parent company Equitas Holdings. The revised swap was finalized with a ratio of 100:231. This means that the shareholders of Equitas Holdings will get 231 shares of the bank for every 100 they hold.&nbsp;<\/p><p>Despite this, the shares of the bank have gained approximately 7 percent in the last five days, and in the span of six months, the stock has gained approximately 54 percent.&nbsp;<\/p><p><strong>Kotak Institutional Equities is bullish on the stock and has maintained a \u2018Buy\u2019 rating with a target price of Rs 65 per share which represents an upside of 8 percent from the current levels.&nbsp;<\/strong><\/p><p>Management reiterated that the asset quality is improving and that is driving confidence to grow faster, while liabilities continue to be an area of work. We take comfort from the stabilization in leadership at the bank and the progress on the reverse merger. We see an opportunity for stock performance led by the merger,\u201d siad the brokerage in its note.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Anoushka Roy<\/strong><\/p><\/blockquote><p><strong>Disclaimer<\/strong><\/p><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>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.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-3832994410\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-1813701934\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Equitas Small Finance Bank opened 5 percent higher at Rs 62 as against its previous close of Rs 59.35. It further zoomed by 2 percent to scale up to a new 52-week high of Rs 63.90. The shares zoomed after the SBI Funds management got approval from the Reserve Bank of India [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":69897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[5405,2508,5404,2165,2978,5212,3226,948,936,3153,5374,3157,5373,2597],"class_list":["post-81336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bank-sector","tag-bank-stocks","tag-kotak","tag-sbi","tag-small-cap","tag-small-cap-bank-stock","tag-small-cap-stocks","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-buy-in-2023","tag-stock-to-watch","tag-stock-to-watch-in-2023","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank stock reaches 52-week high as SBI Funds management acquires 9.99% stake in it\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"As per the BSE filing, the RBI has allowed SBI Funds Management to acquire shares up to 9.99% of the paid-up equity capital of the bank. 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