AU Small Finance Bank rose 1.18% to Rs 557.55 at 10:32 IST on BSE after the bank said it obtained certificate of registration to act as a corporate agent from the insurance regulator.
The announcement was made after market hours on Friday, 1 September 2017.Meanwhile, the S&P BSE Sensex was down 125.14 points, or 0.39% to 31,767.09.
On the BSE, 57,000 shares were traded in the counter so far, compared with average daily volumes of 1.15 lakh shares in the past two weeks. The stock had hit a high of Rs 564.30 and a low of Rs 555.55 so far during the day. The stock hit a record high of Rs 724.45 on 14 July 2017. The stock hit a record low of Rs 496.40 on 7 August 2017.
The stock had underperformed the market over the past one month till 1 September 2017, falling 1.39% compared with 1.07% decline in the Sensex.
Shares of AU Small Finance Bank were listed on the stock exchanges on 10 July 2017. The stock debuted at Rs 525, a premium of 46.65% over its initial public offer (IPO) price of Rs 358. On that day, it settled at Rs 541.20 on BSE, a 3.09% premium over its IPO price.
The large-cap company has equity capital of Rs 284.25 crore. Face value per share is Rs 10.
AU Small Finance Bank said it obtained certificate of registration to act as corporate agent from the Insurance Regulatory And Development Authority of India (IRDAI) on 31 August 2017.
Net profit of AU Small Finance Bank declined 89.53% to Rs 61.83 on 58.3% rise in operating income to Rs 418.85 crore in Q1 June 2017 over Q1 June 2016.
AU Small Finance Bank initiated its operations in 1996 as retail focused non-banking finance company (NBFC) in Jaipur serving low and middle-income individuals and businesses having limited or no access to formal banking and finance channels. The company received a license from the Reserve Bank of India to set up a Small Finance Bank (SFB) along with nine other such entities on 30 December 2016 and commenced SFB operations with effect from 19 April 2017.
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