Ace investor Ashish Dhawan made a fresh stake in Equitas SFB during Q4: Buy, sell or hold?

According to the bulk deal data of Equitas Small Finance Bank (SFB) available on the stock exchanges, Vanguard Total International Stock Index bought 57.19 lakh shares, or 0.5% stake in the company, at an average price of ₹68.01 per equity share, whereas Norges Bank bought 87.7 lakh shares, or 0.78% of the company, on behalf of the Norwegian Government Pension Fund Global at ₹67.96 per share. The combined value of these two FPI transactions is ₹98 crore. 

Apart from the above developments, ace investor Ashish Dhawan bought a fresh stake in Equitas SFB during Q4FY23. As per the shareholding data of Equitas SFB available on the exchanges, Ashish Dhawan bought fresh 40,370,000 shares or a 3.6% stake in Equitas SFB worth ₹282.2 Cr. Ashish Dhawan publicly owns 14 stocks with a net value of more than Rs. 2,601.6 Cr., according to the latest corporate shareholdings declared. Additionally, during Q4FY23, Ashish Dhawan sold shares in Quess Corp. 

On Friday, the shares of Equitas Small Finance closed on the NSE at ₹69.55 apiece level, down by 0.07% from the previous close of ₹69.60. The stock touched a 52-week-high of ₹77.90 on (06-Mar-2023) and a 52-week-low of ₹37.45 on (17-June-2022). During Q4FY23, Equitas SFB reported a promoter stake of 0%, FIIs stake of 22.69%, DIIs stake of 42.97%, and a public stake of 34.33%.

Commenting on the technical outlook of the stock, Rahul Ghose, Founder & CEO – Hedged, an algorithm-powered advisory platform said “The Equitas Small Finance Bank is looking good on the charts as it is making higher tops and higher bottoms guarded by the 20 day exponential moving average on the Weekly chart. The bank also has a high capital adequacy ratio with good growth in its operating profit in the results of the last quarter. In fact, this stock has never closed below the 20day EMA on the weekly chart right from September of 22. Until the stock gives a decisive close below 62.5, one can continue to ride the upward trend on this stock. There is a near term resistance pivot in the stock around the 75 levels which should mostly act only as a speed bump in the stock and it should continue to move on to break it’s all time high.”