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The stock quoted a 52-week high price of Rs 3550.0 and a 52-week low of Rs 899.6.

As of 30-Jun-2022, promoters held 51.37 per cent stake in the company, while FIIs held 17.96 per cent and domestic institutional investors had 19.2 per cent.

“Although the SBI management says that we will recover the bond losses through the year, it is highly unlikely. So overall there are subpar numbers, especially given that the stock is trading near new highs, I The upside, if at all, is very limited and the stock could underperform in near term.”

Suryoday Small Finance Bank Ltd., incorporated in the year 2008, is a banking company (having a market cap of Rs 948.00 Crore).

“In the latest week prices gave a breakout from the double bottom pattern, which is a bullish pattern. The pattern is formed around the level of 59, where we can witness a change in the polarity by the prices,” Vidnyan Sawant, AVP - Technical Research, GEPL Capital, said.

The Nifty Pharma index was trading 0.12 per cent down at 12923.65.

A total of 7,105 shares changed hands on the counter till 11:26AM (IST)

“The short-term trend for the Nifty remains positive as there’s no confirmation of reversal yet. However, the momentum readings on the daily chart are in an overbought zone and hence one should be vigilant on important market levels in the coming week,” Ruchit Jain, Lead Research, 5paisa.com, said.

These risks are NOT related to the long term fundamentals of a business. This is so because price movements in the short term are mostly a function of the market’s perceptions of the business in question. Such perceptions also reflect the market’s tendency to extrapolate short term performance (good or bad) many years into the future," Team Mukherjea said in a note to investors.

The Relative Strength Index of the stock stood at 53.25 on Monday.