Following RBI's announcement that brings in relief to borrowers by way of extension of EMI moratorium by another 3 months until August 31, 2020, financial stocks including those from the NBFC, HFC and MFI pack took a heavy beating up to 8%.
SBI, Bajaj Finance, SBI Cards Hit 52-Week Low After RBI’s Announcement
Moratorium is a period during which borrowers do not have to service their loan EMI. So, considering the earlier waiver of 3 months and now with the extension of relief for another 3 months, the repayment schedule as well as following due dates will be adjusted by 3 months across the board.
Some of the stocks from the space that hit their 52-week low on May 22, 2020:
Stock
New 52-week low price hit on May 22
LTP on May 22
SBI
Rs. 149.55
Rs. 150.70
SBI Cards & Payment Services
Rs. 495.25
Rs. 509.75
Bajaj Finance
Rs. 1865.5
Rs. 1894.65
Union Bank of India
Rs. 22.65
Rs. 22.85
Mahindra & Mahindra Financial Services
Rs. 125.4
Rs. 177.30
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