SBFC Finance block deal: 5.6% equity change hands via multiple block deals; stock down over 3%

SBFC Finance block deal: Shares of SBFC Finance slipped over 3 per cent in the morning deals on Tuesday (April 30). The scrip touched the day's low at Rs 88.4 apiece. The stock fell after 5.6 per cent equity or 5.9 crore shares changed hands via multiple block deals.  

At around 9:53 a.m., shares of SBFC Finance traded 3.4 per cent or Rs 3.11, lower at Rs 88.43 apiece. The market capitalisation of the company at around the same time stood at Rs 9,529.58 crore. 
 
As per Zee Business research, promoters Eight45 and Arpwood were likely to sell their entire stake in the company. Eight45 holds a 0.22 per cent stake in the company and Arpwood holds a 5.23 per cent stake. The details of the deals are not known yet.

SBFC Finance Q4 results 

SBFC Finance reported its Q4 results on April 27. The company reported a standalone net profit of Rs 73 crore against Rs 42 crore a year ago, up 73.8 per cent. The NBFC's net interest income for the quarter under review stood at Rs 169 crore against Rs 152 crore year-on-year (YoY), up 11.1 per cent. 

The gross non-performing asset (GNPA) for the fourth quarter stood at 2.43 per cent against 2.38 per cent in the October to December quarter.  

The net non-performing asset (NNPA) was recorded at 1.36 per cent against 1.36 per cent quarter-on-quarter (QoQ).   

Brokerage view 

After the company posted its Q4 results, ICICI Securities maintained a 'buy' call on the stock and gave a target price of Rs 115 apiece. 

On the other hand, Kotak Securities has retained a 'reduce' rating on the stock and has raised the target price to Rs 90 apiece as the brokerage believes the stock has attained full valuation. 

SBFC Finance share price: Past performance 

In a year, shares of SBFC Finance have lost over 3 per cent as against Nifty50's rise of 25 per cent. 

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.

DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.