Trend

Micro selling

IDFC MF is trimming its holding in SKS Microfinance

SKS Microfinance has gained 33% YTD as against the Sensex's 2.3% slide. Over the last one month or so, the stock has gained 10% following the company’s strong Q4 results that were declared on May 4. The company’s reported PAT of ₹84.5 crore was up 108% YoY, while topline grew 70% YoY to ₹300 crore. Although analysts remain upbeat about the company and feel the stock can re-rate further from here, IDFC Premier Equity Fund recently sold 500,000 shares of the Hyderabad-based company for a sum of ₹31.57 crore. Morningstar data shows that scheme first started accumulating shares of the company in May 2014. The average monthly price of the share back then was ₹255.