SKS Micro gets FII attention

SKS Microfinance is currently amongst the top three gainers in an otherwise lackluster market. The stock opened higher at Rs,354.15 and is currently at Rs.364, up almost 5%. It has hit a 52-week high on 5^th Dec at Rs.377.80.

The stock is up after FII, UBS initiated a “buy” on the stock with a target price of Rs.500. UBS has said that its non-banking micro finance companies have resumed their growth trajectory and it expects FY15-17 earnings at CAGR of 66%.