While Vanguard Total International Stock Index has bought 57.19 lakh shares or 0.5% stake at an average price of Rs 68.01 per equity share, Norges Bank, on account of the Norwegian Government Pension Fund Global, has picked up 87.7 lakh shares or 0.78% stake in the company at Rs 67.96 per share, according to bulk deal data available with the exchanges. The combined deal size stood at around Rs 98 crore.
Meanwhile, another foreign investor Integrated Core Strategies (Asia) has sold 66.39 lakh shares.
According to the shareholding pattern as of December quarter, Equitas Small Finance Bank is completely owned by public shareholders. Mutual funds own about 38.11% stake in the company, while foreign investors have 18.66%. Ace investor Ashish Dhawan holds 3.64% in the company.
Other public foreign shareholders include the Government of Singapore with 1.61% stake and Societe Generale with 1.19% equity in Equitas Small Finance Bank.
On Friday, Equitas Small Finance Bank shares closed 5.43% higher at Rs 68 apiece on NSE. So far this year, the stock has gained 13.43%.
Equitas Small Finance Bank reported a 57% rise in net profit for the third quarter at Rs 170 crore as against Rs 108 crore in the year-ago period, making it the highest ever quarterly profit, driven by lower provisions and robust growth in business.Its net interest income rose 20% year-on-year to Rs 647 crore in the quarter with net interest margin being at 9.01%. Provisions were lower at Rs 50 crore against Rs 78 crore earlier.
According to Trendlyne data, Equitas Small Finance Bank has an average target price of Rs 67.50, representing a downside of 0.95% from the current share price levels.
Brokerage YES Securities expects the bank’s loan book-earnings to grow by 25%-50% CAGR over FY22-25 with an estimated RoE rise to 17-18%. It has a “buy” rating on the stock with a target price of Rs 75.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
