Stocks

SKS Microfinance rallies, stock hits upper limit

PTI Mumbai | Updated on May 11, 2011 Published on May 11, 2011

Continuing its rally for the second straight session, shares of SKS Microfinance spurted by 10 per cent to touch the upper limit during intra-day trade on BSE today amid a sluggish broader market sentiment.

The counter of the country’s largest microfinance player saw brisk buying helping the stock touch the upper circuit of Rs 327.60, up 9.99 per cent on BSE. In the previous trading session, the stock gained about 10 per cent.

On the National Stock Exchange, the scrip shot up by 10.01 to touch the upper circuit of Rs 328.50.

In terms of volume, over 49 lakh shares of the company were traded on the bourses during the early part of the session.

The stock took a beating in the recent past. Prior to yesterday’s gains, it had witnessed a freefall for 12 consecutive trading sessions, shedding nearly 48 per cent.

Published on May 11, 2011
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