India's Ujjivan Small Finance Bank falls for 2nd straight session after abrupt CEO exit

Ujjivan Small Finance Bank

02/09/2026 05:46

** Shares of Ujjivan Small Finance Bank UJJI.NS fall as much as 6.1%; last down 4.3% at 62.6 rupees
** Stock set for second straight session of losses 
** Bank said on September 1 that CEO Sanjeev Nautiyal stepped down from his role with immediate effect due to health issues 
** RBI approved appointment of Executive Director Carol Furtado as interim CEO from September 1
** Shares down 9.4% since the announcement
** Equirus Securities ("Long": PT: 85 rupees) says while Nautiyal's retirement comes as a surprise, near-term transition appears manageable given Furtado’s long association with bank
*** Believes UJJI has a strong second layer management team to ensure continuity of bank's strategy and growth plans
** While uncertainty over MD & CEO could weigh on stock in near term, brokerage believes downside is limited after sharp correction; retains estimates
** YTD, stock up 17%
     

 (Reporting by Mridula Kumar in Bengaluru)
 ((Mridula.Kumar@thomsonreuters.com;))