AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz
AU Small Finance Bank is currently trading at Rs. 736.35, up by 11.25 points or 1.55% from its previous closing of Rs. 725.10 on the BSE.
The scrip opened at Rs. 726.50 and has touched a high and low of Rs. 736.95 and Rs. 724.25 respectively. So far 17272 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 794.95 on 29-May-2023 and a 52 week low of Rs. 548.15 on 24-Mar-2023.
Last one week high and low of the scrip stood at Rs. 736.95 and Rs. 711.55 respectively. The current market cap of the company is Rs. 49001.14 crore.
The promoters holding in the company stood at 25.53%, while Institutions and Non-Institutions held 60.87% and 13.61% respectively.
AU Small Finance Bank has entered into bancassurance tie-ups with Star Health and Allied Insurance Company (Star Health) and Bajaj Allianz Life Insurance Company (Bajaj Allianz). The company has enters into bancassurance tie-up with Star Health for Health Insurance solution to Bank's customers. It has also entered into bancassurance tie-ups with Bajaj Allianz for Life Insurance solution to Bank's customers. These tie-ups will enable the Bank's customers to access a wide range of insurance products from Star Health and Bajaj Allianz.
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.
