Mukul Agrawal Raises Stake In This Small Cap Stock That Has Gone Up 100% In The Past Year

Shares of Suryoday Small Finance Bank have been on an impressive rally at the bourses. The stock has surged over 100% in the past year. The stock event went on to hit a new 52-week high today.

As per the latest shareholding data, ace investor Mukul Agrawal bought another 10 lakh shares of the lender during the June quarter. Agrawal currently holds around 2.83% or 30 lakh shares of the bank which is worth around ₹57 crore.

With a market cap of around ₹2,000 crore, the lender started operations as an SFB in 2017. It started as NBFC (a non-banking financial company). The bank has a presence across 15 states and UTs across India through its 577 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha.

The company reported strong numbers for the quarter ended March. The lender’s net profits for the period went up over 180% year-on-year to ₹38.9 crore. Revenue from operation climbed up close to 40% to ₹329.4 crore.

Price Action: Suryoday’s share price was up 1.31% to trade at ₹189.05 in the early hours of trading on Tuesday.

Read Next: This Small Cap Stock Hit 52-Week High Today: Why Analyst Sees Further 50% Rally

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