On Friday this mid-cap stock gains more than 7% following the announcement of the company’s business updates for Q2. On the same day, the stock rose to a new 52-week high of Rs. 61.40 and it is trading above the 50-day and 200-day moving averages.
Ujjivan Small Finance Bank Ltd
Ujjivan Small Finance Bank Ltd the company belongs to a mid-cap category with a market capitalisation of Rs. 11,974 Cr. On Friday at 11:55 a.m., shares were trading 5.9% up at Rs. 60.30 on NSE.
According to the company filing, total deposits grew by 43% from Rs. 20,396 Cr in Q2 FY23 to Rs. 29,134 Cr in Q2 FY24, CASA increased by 27% from Rs. 5,496 Cr in Q2 FY23 to Rs. 7,006 Cr in Q2 FY24 and for the same period, Gross loan book increased by 27% from Rs. 20,938 Cr to Rs. 26,600 Cr.
The stock has given 130% returns and 150% returns in six months and one year respectively, therefore making an investment of 1 lakh six months ago now would be worth Rs. 2.3 lakhs and making the same amount of investment one year ago now worth 2.5 lakhs.
The company’s total income increased by 42% from Rs. 1,029.9 Cr in Q1 FY23 to Rs. 1,464.1 Cr in Q1 FY24 and net profits grew by 59.6% from Rs. 202.9 Cr in Q1 FY23 to Rs. 324 Cr in Q1 FY24.
As of June 2023, Promoters hold 7.67%, FIIs hold 3.90%, DIIs hold 7.07% and the public hold 15.36% stake in the company.
Ujjivan Small Finance Bank Limited is a small finance bank licensed by the Reserve Bank of India. It is completely owned by Ujjivan Financial Services Ltd. Its business segments are Treasury; Retail Banking; and Corporate/Wholesale Banking.
Written by Sheshadri N
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