Mukul Agarwal Enters This Banking Stock in Q3, Picks 2% Stake: Valuation?

By Malvika Gurung

Investing.com — Ace investor Mukul Agarwal has picked a fresh stake in Suryoday Small Finance Bank (NS:) during the December 2022 quarter.

According to the latest shareholding pattern released by the bank, the marquee investor bought 2 lakh equity shares of the company, translating to a 1.88% stake in the small finance bank in Q3 FY23.

Mukul Agarwal’s total holding in the private lender stands at Rs 2.3 crore, given Suryoday SFB’s current share price of Rs 115/share.

The market mogul did not hold any shares of the small finance bank in the Sept 2022 quarter, as his name was absent from the company’s list of individual shareholders during the quarter.

This means that Agarwal entered the private lender stock in Q3 FY23, as companies have to compulsorily release the names of all the shareholders holding at least a 1% stake in the company, every quarter.

According to Investing Pro models, the average fair value of Suryoday Small Finance Bank is set at Rs 138.89/share, an upside of 21.4% from the lender’s current share price.