10 Sep 2024

AU Small Finance Bank Rises After Partnering with Kotak Mahindra Life Insurance

AU Small Finance Bank's stock is trading at Rs. 718.60, marking an increase of 4.20 points or 0.59% from its previous close of Rs. 714.40 on the BSE.

The stock opened at Rs. 721.00, with a trading range between Rs. 724.40 and Rs. 717.00 so far. A total of 14,809 shares have been exchanged during the trading session.

This BSE 'A' group stock, with a face value of Rs. 10, hit its 52-week high of Rs. 813.00 on January 8, 2024, and a 52-week low of Rs. 554.00 on March 20, 2024. In the past week, the scrip reached a high of Rs. 724.40 and a low of Rs. 671.05. The company's current market capitalization stands at Rs. 53,110.16 crore.

Promoters hold a 22.92% stake in the company, while institutional investors and non-institutional investors own 58.02% and 19.06% respectively.

AU Small Finance Bank has inked a corporate agency agreement with Kotak Mahindra Life Insurance Company to offer life insurance products to its customers. This collaboration will allow the bank's clients to choose from a wide range of life insurance solutions offered by Kotak Mahindra Life Insurance.

AU Small Finance Bank is a small finance bank (SFB) that transitioned from a retail-focused non-banking finance company (NBFC), serving mainly low- and middle-income individuals and businesses with limited access to formal financial services.