Amid the turmoil in the banking sector, small & niche financiers such as AU Small Finance and MAS Financial with a strong track record grabbed our attention.
The bank had earned a net profit of Rs 82.92 crore in the similar quarter of the previous fiscal.
The company will also offer loans under government’s affordable housing and subsidy schemes like Pradhan Mantri Awas Yojana.
The bank has tied up with 11 mutual funds for selling schemes
Morgan Stanley expects the non-banking finance company to report strong growth and high profitability going ahead.
In an interview to CNBC-TV18, Sanjay Agarwal, MD & CEO, AU Small Finance Bank spoke about the results and his outlook for the company.
"The Bank (Au Small Finance Bank) has entered into agreement with Aditya Birla Health Insurance Company Ltd (ABHICL) to act as a corporate agent for health insurance business," the bank said in a regulatory filing.
The recently listed companies undoubtedly bring their own unique moats to investors. However, somewhere while appreciating the strengths of the businesses, investors have taken their eyes off valuations.
After mopping up the shares in the grey market, on listing day, the said operator buys the big quantity from the open market as well, and virtually buys entire allotment of HNI category and part of retail category as many of them apply for listing gains only.
Avinnash Gorakssakar, Market Expert is of the view that one may book profits AU Small Finance Bank.
Prakash Gaba of prakashgaba.com advises exiting AU Small Finance Bank.
Second largest depository CDSL, which was the first one among depositories to list on exchanges, shot up more than 200 percent (from issue price) since the listing on June 30.
The bumper listing was on expected lines, given the overwhelming response to public issue and the hefty grey market premium.
AU Small Finance Bank touched an intraday high of Rs 540 and low of Rs 523.70.
Experts feel the stock price is expected to open over Rs 400, given the overwhelming response to the public issue and indication from the grey market premium that is around Rs 75-80.
AU Small Finance Bank received a license from the Reserve Bank of India to set up a small finance bank in December 2016 and commenced operations from April this year.
The IPO to raise Rs 1,912 crore received bids for 1,08,56,43,264 shares against the total issue size of 3,76,95,520 shares, data available with the NSE till 1515 hours showed.
Aditya Birla Money has come out with its report on AU Small Finance Bank. The research firm has recommended to “Subscribe ” the IPO in its research report as on June 27, 2017.
HEM Securities has come out with its report on AU Small Finance Bank. The research firm has recommended to “Subscribe ” the IPO in its research report as on June 27, 2017.
Brokerage houses largely recommend subscribing to the issue, citing penetration in areas that large financial institutions are absent from, but also flag risks of change in business environment, among others.
Government of Singapore, Kuwait Investment Authority, BlackRock, Nomura Singapore, HSBC Global Investment Funds -- Indian Equity and Wells Fargo Emerging Markets Equity Fund are among the anchor investors.
GEPL Capital has come out with its report on AU Small Finance Bank. The research firm has recommended to "Subscribe " the IPO in its research report as on June 22, 2017.
Antique Stock Broking has come out with its report on AU Small Finance Bank. The research firm has recommended to "Subscribe " the IPO in its research report as on June 20, 2017.