AU Small Finance Bank shares sold by the promoter worth Rs 100 crore
AU Small Finance Bank: It is one of the scheduled commercial banks in India located in Jaipur and Rajasthan. Initially, the bank started as a vehicle financer and later converted into a small finance bank. Whereas, the bank provides services to low and middle-income individuals and micro & small businesses. However, the Chairman and CEO of the bank are Sanjay Agarwal.
Meanwhile, the shares of the bank reported a bearish trend in the stock market. The main reason for this is the promoter, Chiranjee Lal Agarwal sold its stakes on Friday via the open market. He sold almost 24 lakh equity shares of the bank for Rs 100 crores via open market transactions.
As per the reports on the BSE stock market, he sold almost 24,12,000 equity shares of the bank for Rs 414.6 per each share. The total transaction is valued by almost Rs 100 crores. Whereas, the shares of AU Small Finance Bank bought by Bharti Holdings Pvt Ltd. However, at the end of March 2020, Mr. Agarwal holds almost 2.25% stakes in the bank.
However, the AU Smal Finance Bank on Friday, May 15 reported a bearish trend in the stock market. The bank lost 2.10 points with a 0.50% decrease and reached 417.00 INR. While in BSE, the company lost 0.15 points with a 0.036% decrease and reached 418.60 INR.
Stock Market on May 15:
On Friday, both Sensex and Nifty continues its bearish trend in the stock market. The Sensex is trading below 31,100 levels, and Nifty is trading below 9,200 levels in the stock market Sensex lost 25.16 points with a 0.081% decrease and reached a 31,097.73 level. While Nifty lost 5.90 points with a 0.065% decrease and reached 9,136.85 level.
On the other side, the number of coronavirus cases in India reached 81,970 as of Friday, May 15, and deaths reached 2,649.
In the border market, the S&P BSE Smallcap index reported a bearish trend in the stock market on Friday. It lost 17.62 points with a 0.16% decrease and reached a 10,688.86 level. The S&P BSE Midcap index lost 35.79 points with a 0.31% decrease and reached an 11,500.32 level. While Nifty Bank lost 234.55 with a 1.23% decrease and reached an 18,833.95 level.
Top Gainers on May 15: Vedanta, BPCL, Bharti Airtel, Asian Paints, and Tata Steel are the top gainers in today’s stock market
Top Losers on May 15: M&M, Bharti Infratel, Axis Bank, UPL, and Zee Entertainment are the top losers in today’s stock market.