SKS Microfinance soars 10%, analysts apprehensive
SKS Microfinance shares rose 10% to Rs 299 in the afternoon trade on Tuesday. However, the surge came after the stock was beaten down badly in recent times on regulatory concerns in microfinance sector in particular.
Moneycontrol Bureau
SKS Microfinance shares were up 10% to Rs 299 in the afternoon trade on Tuesday. However, the surge came after the stock took a big knock on regulatory concerns, particularly related to the microfinance sector. Some trading interest might have pulled up the stock but the company may not be out of the woods yet, said analysts tracking the stock.
"Today's surge is more of a technical bounce-back," Arun Kejriwal, founder, Kejriwal Research & Investment Services told Moneycontrol.com.
"Currently, there is no reason to justify the stock's rise. The company does not seem to have future prospect. Next two or three quarters results would not spring any positive surprise.
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