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AU Small Finance Bank shares gained 2.9 per cent in Monday's trade on BSE, logging an intraday high at Rs 590.15 per share. The buying in the stock came after the company posted its Q3 update and received a nod from the Reserve Bank of India (RBI) for the acquisition of a 9.5 per cent stake by HDFC Bank and its group entities.
Around 9:23 AM, AU Small Finance Bank share price was up 1.67 per cent at Rs 583 per share on BSE. In comparison, the BSE Sensex was up 0.14 per cent at 79,330.38. The market capitalisation of the company stood at Rs 43,165.51 crore. The 52-week high of the stock stood at Rs 813 per share and the 52-week low of the stock stood at Rs 534 per share.
AU Small Finance Bank Q3 update
In Q3, the small finance bank's total deposits grew 2.3 per cent quarter-on-quarter (Q-o-Q) to Rs 1,12,260 crore as compared to Rs 1,09,693 crore in the September quarter. Its gross advances grew 5.2 per cent Q-o-Q to Rs 1,00,990 crore as compared to Rs 96,033 crore.
However, its current account savings account (CASA) deposits fell 3.2 per cent Q-o-Q to Rs 34,400 crore as compared to Rs 35,521 crore.
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RBI's approval to HDFC Bank for acquisition
On Saturday, RBI gave its approval HDFC Bank and its group of entities to to acquire ‘aggregate holding’ of up to 9.50 per cent in the AU Small Finance Bank within one year.
"We hereby inform that AU Small Finance Bank Limited has received a copy of letter of the Reserve Bank of India dated January 3, 2025, addressed to HDFC Bank Limited that it has accorded its approval to the HDFC Bank Limited (which includes its group entities viz HDFC Mutual Fund, HDFC Life Insurance Co. Ltd., HDFC Pension Management Co. Ltd., HDFC ERGO General Insurance Co. Ltd. and HDFC Securities Ltd.) to acquire ‘aggregate holding’ of up to 9.5 per cent of the paidup share capital or voting rights in the AU SFB within one year from the date of RBI approval letter, failing which RBI approval shall stand cancelled," the filing read.
In the past one year, AU Small Finance Bank shares have lost 28.4 per cent against Sensex's rise of 10 per cent.
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