SKS Microfinance fell 3.63% to Rs 127.50 at 12:16 IST on BSE after founder Vikram Akula and private equity firm Sequoia Capital sold the company's shares in the open market on Tuesday, 3 September 2013.
Meanwhile, the BSE Sensex was up 358.76 points, or 1.97%, to 18,593.42.
On BSE, 2.28 lakh shares were traded in the counter compared with average volume of 1.73 lakh shares in the past one quarter.
The stock hit a high of Rs 135 and a low of Rs 125.45 so far during the day. The stock hit a 52-week high of Rs 198.90 on 13 December 2012. The stock hit a 52-week low of Rs 95.60 on 24 May 2013.
The stock had outperformed the market over the past one month till 3 September 2013, rising 13.61% compared with the Sensex's 4.85% decline. The scrip had also outperformed the market in past one quarter, rising 18.60% as against Sensex's 7.02% fall.
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The small-cap company has an equity capital of Rs 108.21 crore. Face value per share is Rs 10.
On Tuesday, 3 September 2013, SKS Microfinance's founder Vikram Akula sold his entire residual holding of 9.06 lakh shares in the company in the open market at Rs 132 each. Private equity firm Sequoia Capital India Growth Investments I also sold 15 lakh shares in the company at Rs 132 each on Tuesday.
Meanwhile, SKS Mutual Benefit Trust Medak bought 10.25 lakh shares of the company at an average price of Rs 130.79 on Tuesday.
As on 30 June 2013, Sequoia Capital India Growth Investments I held 41.12 lakh shares, or 3.80% stake in SKS Microfinance.
SKS Microfinance reported net profit of Rs 4.97 crore in Q1 June 2013, as against net loss of Rs 38.84 crore in Q1 June 2012. Operating income rose 68.8% to Rs 107.99 crore in Q1 June 2013 over Q1 June 2012.
SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households.
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