AU Small Finance Bank (AUBANK) shares rose by 5.57%, reaching ₹676.00 at 12:44 PM, following significant developments in the company. The stock hit a day high of ₹676.45 after a block trade valued at ₹107.24 crores, involving 1,620,114 shares at ₹661.90 each.
In addition to the block trade, AU Small Finance Bank recently announced its intention to apply for a universal banking license in September 2024. This strategic move is expected to enhance the bank’s operational capabilities and expand its product offerings, positioning it for future growth in the competitive banking sector.
Stock Price Details:
– Open: ₹641.50
– High: ₹676.45
– Low: ₹641.50
– Previous Close: ₹640.35
The combination of the block trade and the upcoming application for a universal banking license has generated positive sentiment among investors, reflecting confidence in AU Small Finance Bank’s growth trajectory. As the bank prepares for this significant transition, stakeholders will be closely monitoring its developments and market performance in the coming months.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
