BREAKING NEWS: SKS MICROFINANCE Cmp Rs 439/ ( 440 strike Call @ Rs 16)
SKS Micro is set to announce bumper nos for Q2 Wherein its PAT should be Rs 78 crores which will be around 37% higher YoY basis and around 27% higher QoQ basis. These nos are also substantially higher than market / bloomberg estimate of 66 crores
Stock had climbed to Rs 589 after Q1 results.
Stock had risen sharply on Friday and today but fell due to news that CBI has registered case against Dilli Raj. Mr Raj was working for First Leasing few years back and currently employed with SKS Micro. It may be noted that this CBI case is pertaining to some fraud done by promoters of First Leasing. Hence, such a case is completely unrelated to SKS Micro and should not in any way affect fortunes of SKS.
We estimate that stock can rise to Rs 490-500 by October expiry.
Buying strongly recommended.
SKS Micro is set to announce bumper nos for Q2 Wherein its PAT should be Rs 78 crores which will be around 37% higher YoY basis and around 27% higher QoQ basis. These nos are also substantially higher than market / bloomberg estimate of 66 crores
Stock had climbed to Rs 589 after Q1 results.
Stock had risen sharply on Friday and today but fell due to news that CBI has registered case against Dilli Raj. Mr Raj was working for First Leasing few years back and currently employed with SKS Micro. It may be noted that this CBI case is pertaining to some fraud done by promoters of First Leasing. Hence, such a case is completely unrelated to SKS Micro and should not in any way affect fortunes of SKS.
We estimate that stock can rise to Rs 490-500 by October expiry.
Buying strongly recommended.
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