India's Equitas Small Finance Bank hits 1-mnth high as Q3 profit jumps

Equitas Small Finance Bank

09/02/2023 06:46

** Shares of Equitas Small Finance Bank  EQUI.NS  rise as
much as 5.6% to 58.85 rupees, highest since Jan. 9
    ** Stock sees highest intraday pct gain since Jan. 4
    ** The private lender reported a 57.4% jump in Dec-qtr net
profit on Wednesday at 1.70 billion rupees
    ** Bank says asset quality improved, with gross NPAs falling
to 3.63% from 4.61% a year ago
    ** Stock on track to close above its 50-day, 100-day and
200-day moving averages if gains hold
    ** More than 6.2 mln shares traded by noon IST, 2.2x 30-day
avg
    ** All of the 12 analysts covering the stock rate it 'buy'
or 'strong buy;' median PT is 67 rupees - Refinitiv data
    ** Stock last up 1.8%, cutting year to date losses to 2.7%
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))