AU Small Finance Bank inches up on inking pact with HDFC Life
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AU Small Finance Bank is currently trading at Rs. 669.20, up by 0.30 points or 0.04% from its previous closing of Rs. 668.90 on the BSE.
The scrip opened at Rs. 656.55 and has touched a high and low of Rs. 676.10 and Rs. 656.55 respectively. So far 22799 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 732.90 on 21-Apr-2022 and a 52 week low of Rs. 467.50 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 689.50 and Rs. 656.55 respectively. The current market cap of the company is Rs. 44611.11 crore.
The promoters holding in the company stood at 25.58%, while Institutions and Non-Institutions held 59.83% and 14.57% respectively.
AU Small Finance Bank and HDFC Life have entered into a corporate agency arrangement for soliciting insurance plans of HDFC Life through the bancassurance business model.
This partnership would enable diverse customers of AU Small Finance Bank to access the entire range of life insurance products offered by HDFC Life, thus fulfilling their need for financial protection. The said arrangement will aim to further enrich the Bank’s life insurance offering by enabling its customers to access the digital platform and the touch points of HDFC Life for servicing.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
