Stock: Au Small Finance Bank

NSE Symbol: AUBANK

Add Date: February 04, 2021

Add Price: Rs 967

Remove Price: Rs 1,100

Gain/Loss: +13.8%

Industry Group: Banks –Money Center

Market Cap: Rs 36,226 crore

AU Small Finance Bank, which started in 1996, is a scheduled commercial bank that successfully transited from an asset financing NBFC to a small finance bank. The bank is retail-focused with a diversified bouquet of products and services. Its target customers include low-and-middle income individuals and micro/small businesses, which are creditworthy and have a business potential but are unable to avail financing from formal channels. The bank currently has more than 18 lakh active customers. Further, the bank enjoys a marquee investor base that includes institutions like Kotak, Nomura, HDFC Life, SBI MF, UTI, etc.
The stock was added on February 04, after it broke out of a stage-one consolidation base on very good volume,turning actionable.
After addition, the stock advanced around 36% from our add price. We have advised risk averse investors to book partial profits in the scrip.
The stock has breached its 50-DMA, so we are exiting the stock due to technical weakness at a profit of 13.8%.

Booking Profit in One Stock