Ujjivan Financial Services (UFSL) shares increased 9% on the BSE during Wednesday’s intra-day session on the strength of significant volume, reaching a 52-week high of Rs200.65. The non-banking financing company’s (NBFC) stock rose above the previous record high of Rs. 191.80 set on November 1, 2021. The S&P BSE Sensex, in contrast, was up 0.09 percent at 59,081 points at 10:54 a.m.
In comparison to their two-week average trading volume, the counter’s trading volume substantially doubled. On the NSE and BSE, 2.3 million equity shares were traded in total. With an 83.32 % shareholding, UFSL is a key holding company for Ujjivan Small Finance Bank Limited (Ujjivan SFB). The UFSL has launched its fully owned subsidiary, which started operating as a bank on February 1, 2017, in order to comply with the banking license requirement. In India, Ujjivan SFB is a bank with a mass market focus, committed to promoting financial inclusion and serving underserved and unserved market segments.
During the final quarter of FY21—22 and the first quarter of FY22—23, Ujjivan SFB experienced a remarkable turnaround as a result of the economy’s slow but steady recovery. Given that loan demand has returned to normal, the management is optimistic about the Bank’s future. In its annual report for FY22, UFSL stated, “We are sure that the momentum built in the last six months will continue in the current fiscal and in the years to come, allowing our Bank to gain newer heights in terms of growth, size, deposit mobilization, and profitability.”
Ujjivan SFB’s stock was trading 4% higher at Rs21.35 on the BSE at the same time. On October 19, 2021, it reached a 52-week high of Rs23.75, and on December 12, 2019, it reached a record high of Rs63.
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