India's Equitas Small Finance Bank rise on Q4 deposit, advances growth

Equitas Small Finance Bank

06/04/2023 05:14

** Shares of private lender Equitas Small Finance Bank Ltd  EQUI.NS  up as
much as 2.7% at 68.70 rupees, their highest since March 29
    ** The lender said its total deposits for March quarter grew 34% YoY to
253.81 billion rupees  ($3.10 billion)
    ** Gross advances rose 36%% YoY to 280.61 billion rupees
    ** Disbursements for the quarter grew 80% YoY to 59.17 billion rupees
    ** Stock is trading above its 50-, 100-, and 200-day simple moving averages,
indicating bullish sentiment
    ** All 14 analysts covering the stock have a "buy" or "strong buy" rating;
median PT is 74 rupees - Refinitiv data
    ** EQUI up ~14.7% YTD, as of last close
 


($1 = 81.8800 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))