Equitas Holdings slides as SBI MF pares stake

Equitas Holdings declined 1.58% to Rs 108.85 after SBI mutual fund sold 1.41% stake held in the company.

SBI mutual fund held 1.15 crore equity shares, or 3.36% stake, in Equitas Holdings. It sold 1.41% stake on 6 December 2019. Post transaction, SBI mutual fund holds 1.95% stake in the company. The announcement was made after market hours yesterday, 9 December 2019.

Shares of Equitas Holdings declined 2.94% in two trading sessions to its current market price of Rs 108.85 from its recent closing high of Rs 112.15 on Friday, 6 December 2019.

Meanwhile, the S&P BSE Sensex was down 10 points or 0.02% to 40,477.83.

In the past one month, shares of Equitas Holdings jumped 19.81% to its current market price of Rs 108.85.

On the technical front, the stock's RSI (relative strength index) stood at 63.896. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock was currently trading above its 50-day moving average (DMA) placed at Rs 98.62, but still below its 200 DMA placed at Rs 116.49.

Equitas Holdings' consolidated net profit fell 20.3% to Rs 41.26 crore on 19.1% rise in total income to Rs 704.81 crore in Q2 September 2019 over Q2 September 2018.

Equitas Holdings is engaged in the businesses through its subsidiaries: Equitas Micro Finance (EMFL), Equitas Finance (EFL), Equitas Housing Finance (EHFL) and Equitas Technology (ETPL).

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