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%.
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|