SKS Microfinance stock up 10% for second straight day

Shares of SKS Microfinance gained 10% on Wednesday afternoon after losing 34% over Friday and Monday.

SKS' bounceback for a second consecutive day --it had risen to close up 10% on Tuesday -- follows predictions of consolidation in the industry and a troubled outlook for the company for another two quarters.

The company's stock was trading at Rs 328.50 at 12:12 pm after recovering from its previous closing low of Rs 298.60 , reached on Monday.