AU Small Finance Bank rises on entering into bancassurance tie-up with Max Life
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AU Small Finance Bank is currently trading at Rs. 745.40, up by 3.60 points or 0.49% from its previous closing of Rs. 741.80 on the BSE.
The scrip opened at Rs. 748.35 and has touched a high and low of Rs. 751.20 and Rs. 743.00 respectively. So far 2498 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. 763.25 and Rs. 726.00 respectively. The current market cap of the company is Rs. 49966.40 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-up with Max Life Insurance Company for providing Life Insurance solution to Bank’s customers. This tie-up will enable the Bank’s customers to access a wide range of life insurance products from Max Life Insurance Company.
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
