Shares of Jana Small Finance Bank surged 3.98 per cent to scale their one-year high level of Rs 489.40 in Monday's trade. The sudden uptick in the stock came after the lender announced that it has partnered with Kotak Mahindra Life Insurance Company Ltd to offer life insurance to its customers.
"The partnership will help 52 lakh customers of the bank with a wide range of life insurance products offered by Kotak Life, including long-term savings and retirement solutions," the company stated.
The counter saw high trading volume today as around 72,000 shares were seen changing hands today. The figure was higher than the two-week average volume of 28,000 shares. Turnover on the counter came at Rs 3.38 crore, commanding a market capitalisation (m-cap) of Rs 4,980.07 crore.
Bourses BSE and NSE have put the securities of Jana Small Finance under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
Bourses BSE and NSE have put the securities of Jana Small Finance under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
The counter traded higher than the 5-day, 10-, 20-day and 30-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 65.85. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's earnings per share (EPS) stood at 18.30.
As of February 13 this year, promoters held a 22.54 per cent stake in the company.