Nifty has again started to form higher tops and bottoms and has finally provided a breakout from the crucial swing resistance of 12,040 levels
The stock surged 10% intra-day to Rs 787 and surpassed its previous high of Rs 747 touched on April 27, 2019, on back of heavy volumes on the BSE.
Altico, a lender focused on real estate finance, had availed of a term loan of Rs 62 crore from the bank which AU SFB recalled earlier
Margins likely to come under pressure as bank will pass on benefits to borrowers, say analysts
The stock surged 10% to Rs 711 on the BSE in early morning trade after a more than 9% equity trade in block deals.
The IPO success was possibly inspired by the fact that small finance banks will deepen their regional presence, venturing where their larger equivalents have never been
The stock listed at Rs 525, a 47% premium against its IPO price of Rs 358 per share.
IPO of AU Small Finance Bank was oversubscribed 53.60 times during June 28-30 and raised Rs 1,912 cr
Assets have tripled as it transformed from unorganised lender to NBFC and then a small finance bank