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AU Small Finance Bank share price jumps 4% after Singapore govt buys over 19 lakh shares

AU Small Finance Bank share price climbed 4.3% to Rs 415 today compared to the previous close of Rs 397.90 on BSE

twitter-logoBusinessToday.In Last Updated: May 19, 2020 | 15:46 IST
AU Small Finance Bank share jumps 4% after Singapore govt buys over 19 lakh shares
AU Small Finance Bank stock has gained over 2% in one week

Share price of AU Small Finance Bank gained in trade today after government of Singapore bought stake in the lender. AU Small Finance Bank share price climbed 4.3% to Rs 415 today compared to the previous close of Rs 397.90 on BSE. However,  the stock erased gains and was trading 2.41% away from 52-week low of Rs 379.9.

Volume-wise, 0.24 lakh shares traded on BSE, amounting to turnover of Rs 98.17 lakh. AU Small Finance Bank stock has gained over 2% in one week.  It has lost 28.24% in one month and 42% in one year, respectively. The stock has lost 52% since the beginning of this year. AU Small Finance Bank is trading lower than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Singapore government purchased 19 lakh shares of the lender, or 0.65% stake, at Rs 414.6 apiece, according to bulk deal data on the NSE. Last week, Sunil Bharti Mittal-owned Bharti (SBM) Holdings bought 2.4 million shares of AU Small Finance Bank. Bharti SBM acquired 0.79% of equity at Rs 414.16 apiece, with the transaction valued at Rs 99.90 crore.

In Q4, AU Small Finance Bank logged a 3.45 per cent rise in its net profit to Rs 122.32 crore against Rs 118.23 crore in the same period a year ago. AU Small Finance Bank's net income rose 43 per cent to Rs 738 crore in the fourth quarter from Rs 517 crore in the corresponding period of 2018-19. Net interest income grew 43 per cent to  Rs 555 crore in Q4 from  Rs 387 crore in corresponding period a year ago. Other income grew 33 per cent to Rs 174 crore in the January to March quarter 2020.

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