Ujjivan Financial jumps after unit receives scheduled bank status

Ujjivan Financial Services rose 5.12% to Rs 341.75 at 9:40 IST on BSE after the company said that its subsidiary was granted scheduled bank status.

The company made the announcement after market hours yesterday, 29 August 2017.

Meanwhile, the S&P BSE Sensex was up 237.25 points, or 0.76% to 31,625.64.

On the BSE, 2.19 lakh shares were traded in the counter so far, compared with average daily volumes of 2.61 lakh shares in the past one quarter. The stock had hit a high of Rs 346 and a low of Rs 338 so far during the day. The stock hit a 52-week high of Rs 484 on 4 October 2016. The stock hit a 52-week low of Rs 285 on 26 December 2016.

The stock had outperformed the market over the past one month till 29 August 2017, rising 0.56% compared with 3.46% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.74% as against Sensex's 0.78% rise. The scrip had underperformed the market in past one year, falling 23.85% as against Sensex's 10.74% rise.

The mid-cap company has equity capital of Rs 119.69 crore. Face value per share is Rs 10.

Ujjivan Financial Services said that its wholly-owned subsidiary, Ujjivan Small Finance Bank, was granted the 'Scheduled Bank' status with effect from 25 August 2017.

On a consolidated basis, Ujjivan Financial Services reported net loss of Rs 74.94 crore in Q1 June 2017 compared with net profit of Rs 71.37 crore in Q1 June 2016. Net sales rose 0.53% to Rs 323.40 crore in Q1 June 2017 over Q1 June 2016.

Ujjivan Financial Services is a non-banking financial company (NBFC). Its operations is spread across 24 states and union territories, and 209 districts across India.

Powered by Capital Market - Live News