Shares of Suryoday Small Finance Bank Ltd surged 3.53% to ₹102.30 on March 18, following an announcement that Baskar Babu Ramachandran, the Promoter, Managing Director & CEO of the bank, has purchased 1,50,000 equity shares from the open market.
In a regulatory filing, Suryoday Small Finance Bank stated:
“This is to inform you that the Bank has received an intimation today, i.e. Monday, 17 March 2025, from Mr. Baskar Babu Ramachandran, the Promoter and Managing Director & CEO of the Bank, that he has purchased a total of 1,50,000 Equity shares from the open market.”
Following this transaction, the total promoter group holding in the bank has increased to 22.44% from 22.30%, while Ramachandran’s individual stake has risen to 5.18% from 5.04%. The bank clarified that the promoter shareholding remains in compliance with RBI-approved regulatory limits.
Stock Market Performance
- Current Share Price: ₹102.30
- Intraday High: ₹102.98
- Previous Close: ₹98.81
- Year Range: ₹97.97 – ₹217.70
- Market Cap: ₹10.82 billion
- P/E Ratio: 5.18
- Trading Volume: 292.70K
This development has been viewed positively by investors, as promoter buying is often considered a sign of confidence in the company’s growth and valuation.
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