Fino Payments Bank at all time low

Fino Payments Bank declined 3.8% to Rs 310.1, extending its losing run to seventh consecutive trading session.

Shares of Fino Payments Bank have declined nearly 18% in seven trading sessions from its previous closing high of Rs 377.60 posted on 9 February 2022. The counter has fallen nearly 47% from its 52-week high of Rs 583.35 hit on 12 November 2021. The stock hit an all-time low of Rs 308.15 in intraday today.

In one month, the stock has fallen 22.6% as compared to a 4.2% fall in Nifty 50 index.

Shares of Fino Payments Bank entered the bourses on 12 November 2021. It was listed at Rs 548, a discount of 5.03% to the issue price of Rs 577. The stock now trades 46% below its issue price.

Fino Payments Bank is a fintech company offering a diverse range of financial products and services that are primarily digital and have payments focus. It offers such products and services to target markets via a pan-India distribution network and proprietary technologies.

The bank reported a net profit of Rs 14.1 crore on a total income of Rs 275 crore in quarter ended December 2021.

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