SKS Microfinance gains on Morgan Stanley's "overweight" rating

Shares of SKS Microfinance have surged 3% to Rs 301 on the BSE after Morgan Stanley initiated coverage on the stock with an "overweight" rating and a target price of Rs 385. 

 

Morgan Stanley added that Indian microfinance industry has demand potential of Rs 540,000 crores or $90 billion 

 

The stock opened at Rs 293, touched a high of Rs 305 and a low of Rs 293 on the BSE. A total of 712,573 shares have been exchanged on the BSE so far.