Spandana Sphoorty Financial share: Shares of Spandana Spurti Financial hit upper circuit of 20 percent today on January 7. This stock closed at Rs 402.75 on BSE. This is the biggest one-day rise in the company’s shares in the last 10 weeks. Earlier, shares had seen a rise of nearly 10 per cent on October 29, when the share price rose from Rs 383.35 to Rs 418.95 per share. With today’s rise, the market cap of the company has increased to Rs 2871 crore. The stock’s 52-week high is Rs 1243.10 and 52-week low is Rs 305.50.
Sushil Kedia told the strategy
Sushil Kedia of Kedianomics recently gave his opinion about this stock. “We are waiting for this stock and giving it time to stabilize. Who knows, it may fall by 15% to 20%. We will confirm only when we get the final signal,” he told CNBC Awaaz. This stock had become a four bagger earlier also, but later fell down.”
Kedia further said, “When it gets a signal, we are not advising to buy it immediately, it is possible that Spandana Sphoorti stock can go from ₹300 to ₹1800, but for this we will wait for the right signal.” Who knows, maybe next week.” Of the 10 analysts covering Spandana Sphoorthi Financial, six currently have a ‘Buy’ rating on the stock, while four recommend Hold.
Spandana Sphoorty’s Financials
Spandana Sphoorthi Financial reported a net loss of ₹204 crore in the September quarter. Gross NPA during this period stood at 4.86%, while net NPA stood at 0.99%. Provisions during the quarter grew 468 per cent over the previous year and 144 per cent from the June quarter to ₹491.8 crore.
Operating profit for the second quarter also declined by 9 per cent to ₹219.7 crore compared to the same quarter last year. Assets under management for the quarter grew by 7.7% year-on-year, but declined by 10.1% compared to the June quarter to ₹10,537 crore.
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