Ashish Dhawan buys 3.4% stake in this small cap bank stock this Qtr; Check the details

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Ashish Dhawan buys 3.4% stake in this small cap bank stock this Qtr; Check the details

Ace investor Ashish Dhawan has bought a stake in Equitas Small Finance Bank (NS: EQUI ) as per the latest shareholding pattern of the company filed with the exchanges. His name appears in the list of public shareholders who hold more than one percent stake in the bank.

Equitas Small Finance Bank is an India-based banking company operating in the treasury, wholesale banking and retail banking business.

Ashish Dhawan has bought 4,03,70,000 shares in the company or a 3.64% stake and his holdings are worth ₹ 268.13 crores as of 12:35 PM on Monday, as the company’s shares were trading at ₹ 66.42 apiece.

Indian mutual funds like Nippon India Mutual Fund, HDFC Mutual Fund, SBI (NS: SBI ) Mutual Fund and Franklin India Mutual fund collectively hold a 13.37% stake in the company. Moreover, Foreign portfolio investors like the Government of Singapore, Societe Generale (EPA: SOGN ), and Massachusetts Institute of Technology collectively hold a 4.08% stake in the company.

The small Finance Bank has a market capitalization of ₹ 7568 crores and is a small-cap bank. It has a return on equity of 7.35% and an ideal debt-to-equity ratio of 0.59. Its shares were trading at a price-to-earnings ratio (P/E) of 16.94, which is significantly higher than the industry P/E of 8.22, indicating that it is overvalued as compared to its peers.

Written by Simran Bafna

The post Ashish Dhawan buys 3.4% stake in this small cap bank stock this Qtr; Check the details appeared first on Trade Brains.

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