SKS Microfinance jumps on bargain hunting

SKS Microfinance rose 3.78% to Rs 527.35 at 11:39 IST on BSE on bargain hunting after the stock fell 12.29% in the preceding five trading sessions to Rs 508.15 on 12 August 2015, from a recent high of Rs 579.35 on 5 August 2015.

Meanwhile, the BSE Sensex was up 147.73 points, or 0.54%, to 27,659.99.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with an average volume of 1.77 lakh shares in the past one quarter.

The stock hit a high of Rs 532.40 and a low of Rs 509 so far during the day. The stock hit a 52-week high of Rs 589.50 on 31 July 2015. The stock hit a 52-week low of Rs 260.55 on 14 August 2014.

The stock had outperformed the market over the past one month till 12 August 2015, rising 1.98% compared with 0.54% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.23% as against Sensex's 2.36% rise.

The mid-cap company has an equity capital of Rs 126.61 crore. Face value per share is Rs 10.

Net profit of SKS Microfinance rose 24.01% to Rs 61.16 crore on 67.3% rise in total income to Rs 282.64 crore in Q1 June 2015 over Q1 June 2014.

SKS Microfinance is among the largest microfinance companies in India. The company's mission is to provide financial services to the economically weaker sections.

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