Shares of AU Small Finance Bank experienced a notable rise today, following an 'Overweight' rating from Morgan Stanley (NYSE:MS) and a raised target price. The investment bank's positive outlook has led to a 2.24% increase in the bank's stock value, with shares reaching ₹724.80 as of 10:32 AM IST on the Bombay Stock Exchange (BSE).
Morgan Stanley's report forecasts a doubling of the bank's earnings per share (EPS) from the financial year 2023 to 2026. This optimistic projection has resonated with investors, propelling the share price upward.
In addition to the favorable rating, AU Small Finance Bank has announced an extraordinary general meeting (EGM) to be held on November 27 in Jaipur at 3:00 PM IST. The meeting is set to discuss strategic initiatives as the bank continues its focus on financial inclusion.
The Jaipur-based institution specializes in providing financial services primarily to individuals and small businesses, particularly in semi-urban regions. This approach aligns with the bank's mission to extend banking and financial services to underserved communities, thereby fostering economic growth and inclusion in these areas.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.