India's Equitas Small Finance Bank jumps 10% after strong quarterly update

Equitas Small Finance Bank

07/07/2022 07:43

** Shares of banking company Equitas Small Finance Bank
 EQUI.NS  rise as much as about 9.9%, their biggest intra-day
pct gain since Feb. 21
    ** Gross advances up 22% Y/Y at 216.99 bln rupees ($2.75
bln), co said in its provisional quarterly update on Wednesday
 urn:newsml:reuters.com:*:nFWN2YN13E
    ** Co's disbursement for the quarter stood at 32.38 bln
rupees, up 156% Y/Y
    ** Many Indian banks and non-banking financial cos have
reported strong quarterly performance update for the June
quarter  urn:newsml:reuters.com:*:nL4N2YL13M  urn:newsml:reuters.com:*:nFWN2YM0GD
    ** Nifty bank index  .NSEBANK  is down 2.3% YTD vs the more
than 7% fall of the benchmark Nifty 50 index  .NSEI 
    ** About 2.8 mln EQUI shares change hands vs 30-day avg of
1.4 mln shares
    ** EQUI shares down nearly 34% this year, as of last close
   


($1 = 79.0200 Indian rupees)
    
    

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com))