Equitas Small Finance Bank jumps as RBI allows DSP Investment to buy stake

Equitas Small Finance Bank

17/11/2022 09:54

** Shares of Equitas Small Finance Bank Ltd  EQUI.NS  rise
as much as 12.3% to 50.80 rupees, their biggest intraday pct.
gain since July 12, 2021
    ** Private bank says India's central bank approved DSP
Investment Managers' purchase of 9.99% stake in bank
    ** Stake purchase to be made via schemes of DSP Mutual Fund
after merger of parent Equitas Holdings Ltd  EQHL.NS  with bank,
EQUI adds
    ** Stock hits its highest level since May 20
    ** More than 8.7 mln shares change hands by 0945 GMT vs
30-day avg. of ~1.4 mln shares
    ** Twelve of the 13 analysts covering the stock have a "buy"
or "strong buy" rating, while one has "hold"; median PT is 65
rupees - Refinitiv data
    ** As of last close, stock was down 14.6% so far this year 
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))