Shares of AU Small Finance Bank jumped over 12% percent today after the lender posted its business update for the third quarter ended December 2021. The stock rose 12.18% to an intraday high of Rs 1,228 against the previous close of Rs 1094.65 on BSE.The share has gained 13.75% in the last 3 days. It opened 3.23% higher at Rs 1,130 today.
The share trades higher than 5 day, 20 day, 50 day and 200 day moving averages but lower than 100 day moving averages.
The stock has gained 33.16% in one year and risen 13.62% since the beginning of this year.
Total 1.99 lakh shares of the lender changed hands amounting to a turnover of Rs 23.62 crore on BSE.Market cap of the lender rose to Rs 36,987 crore.
The private sector bank reported a sequential growth of 10.6 per cent and 26.5 per cent year-on-year in assets under management (AUM) to Rs 42,027 crore for the quarter ended December 2021.
"Q3FY22 was near-normal quarter for the Bank with strong growth seen in advances, disbursements and deposits across all businesses and customer segments supported by a good festive season. The customer cashflows continue to improve supporting recovery trends and asset quality in the quarter.", AU Small Finance said in its provisional business update.
Financial services firm Motilal Financial Services said, "The lender posted a robust growth in advances, led by strong disbursements, due to an overall improvement in the business environment. Deposit growth too remains strong, led by robust CASA growth, resulting in a further improvement in CASA ratio. On the asset quality front, collection efficiency remains strong (in excess of 100 per cent), which is likely to result in an improvement in asset quality ratios, providing further comfort. "