Spandana Sphoorty nears record low; tanks 73% in CY24 on growth concerns

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Spandana Sphoorty nears record low; tanks 73% in CY24 on growth concerns - Business Standard

Quick Summary:

Spandana Sphoorty Financial shares hit a multi-year low of Rs 309, down 3% on the BSE in Tuesday's intra-day trade, and inched towards its all-time low of Rs 288.

Thus far in the calendar year 2024 (CY24), SSFL has underperformed the market by falling 73 per cent, as compared to 9 per cent rise in the BSE Sensex.

A number of other issues like higher-than-normal attrition levels, localised drives like Karza Mukti Abhiyan and increasing leverage of borrowers, all had an impact on the sector.