India's Ujjivan Small Finance Bank falls after trimming loan growth outlook

Ujjivan Small Finance Bank

24/06/2024 06:00

** Shares of Ujjivan Small Finance Bank  UJJI.NS  down 5.1%
at 45.88 rupees
    ** Co on Friday trimmed its loan growth outlook for FY25 to
20% from prev view of 20%-25%, raised credit cost outlook to
1.7% from prev view of 1.4%-1.5%
    ** UJJI says loan growth lowered due to stress in its
microfinance lending segment in certain states
    ** Centrum Broking notes microfinance lending forms 70% of
UJJI's loan book, reduces PT to 72 rupees from 74 rupees earlier
    ** Antique Stock Broking says UJJI highlighted stress to
asset quality in certain hotspots
    ** At least 3 other analysts reduce their PT after latest
update - LSEG data
    ** UJJI extends YTD losses to 19.7%; only ESAF Small Finance
Bank  EASF.NS  has fallen more this year among small finance
lenders

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))