Microfinance Focus, July 11, 2011: Stocks of India’s largest and only listed microfinance institution SKS Microfinance surged 10 percent, hitting its upper circuit limit on the Bombay Stock Exchange today.  The stocks last traded price was Rs. 542, up by Rs 49 from the previous close.

The surge marks SKS Microfinance third straight gain since the Government released the draft Microfinance (Development and Regulation) Bill 2011 which seeks to make Reserve Bank of India the sector’s sole regulator.

SKS CEO, Dilli Raj has earlier said in a press conference, “Proposed bill to have the central bank regulate the industry will help ensure orderly sector growth”.