-India's Ugro Capital surges on strong Q2 update

Ugro Capital

11/10/2023 05:08

** Shares of non-banking financial co Ugro Capital  UGRO.NS 
soar as much as 8.9% to 297 rupees, their biggest intraday
percentage gain since July 19
    ** Co says overall assets under management as on Q2FY24
stood at around 75.90 bln rupees, up 73.5% y-o-y 
    ** UGRO says gross loans originated during Q2 were at around
 25 bln rupees, up over 51% y-o-y 
    ** Co says collection efficiency or the success rate of
collecting debts (excluding overdue) improved to 97.6% in Q2FY24
from 96.8% in Q1FY24
    ** More than 165,000 shares traded by 9:23 a.m. IST, 0.5
times their 30-day moving avg
    ** Up to last close, stock had risen 80.4% YTD 

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))