Bharat Financial Slumped over 5% Intraday Today

Bharat Financial share price (erstwhile SKS Microfinance) slumped over 5.5 per cent in Friday’s trade. The company, in the September quarter posted 87.3 per cent rise in its net profit. On Tuesday, the company said it is recording a collection efficiency of 97 per cent with a 2-week lag in the wake of the government’s recent demonetization move.

In a presentation to BSE, the company also said that most of its customers provides to non-discretionary spending.  There has been a noteworthy pick up in collections with every passing day. In the first week, collections ran below actual dues, with the installment collection gap contracting progressively. Thereafter, in the second week, collections were considerably higher than dues as borrowers repaid a large part of the previous week's overdues. The market analysts said that the stock valuation looks appealing in the context of high growth and 25 per cent ROE at 2.5 times F2018 book value (trailing five-year average of 3 three years).

Today, at 2:27 PM Bharat Financial share price was trading at Rs. 711, down by 4.44 per cent as compared to the 0.89 per cent decline in the Benchmark Index Nifty. So far, over 16 lakh shares have been traded at the NSE trading counter with the value of twelve lakh as compared to its twenty day trading average of approximately 30 lakh.

Also, recently, the company has allotted 97,199 equity shares of Rs. 10/- each to the employees who have exercised options under various SKS Microfinance Employee Stock Option Plans. As on 2nd December 2016, the market cap of the company stands at Rs. 10270.86 crores and the book value of the stock stands at Rs. 101.05.

Bharat Financial is the top 500 recommended stock for the quarter by Dynamic Levels. For the details on Bharat Financial, visit Bharat Financial share price history page of Dynamic Levels website.