SKS Microfinance has rallied 6.4% at Rs 115, its highest level since April 23 on back of huge volumes. A combined 5.08 have already changed hands on the counter till noon deals against an average 5.3 million shares that were traded daily in past two weeks on the NSE and BSE.
The stock outperformed the market by gaining 28% in past eight trading sessions as compared to 3% rise in benchmark Sensex after in the quarter ended June, company narrowed its loss to Rs 39 crore. The only listed micro lender in the counter had reported loss of Rs 219 crore in the year-ago period
Dilli Raj, chief financial officer of SKS Microfinance in media interview said, the company should revert to the path of profitability by Q3
