India's Ujjivan Small Finance Bank rises on strong loan, deposits growth

Ujjivan Small Finance Bank

06/04/2023 05:34

** Shares of Ujjivan Small Finance Bank  UJJI.NS  rise as much
as 4.5% to 27.75 rupees, their highest since March 6
    ** Stock on track for a fourth consecutive session of gains,
if trends hold
    ** Co on Wednesday said its gross loan book as of March-end
stood at 241.14 bln rupees ($2.94 bln), up 33% YoY
    ** Total deposits was at 254.81 bln rupees, up 39% YoY
    ** Gross NPAs fell to 2.6% in March vs 3.4% in December 2022
    ** Around 6 mln shares change hands in early trade, slightly
higher than the 30-day moving avg
    ** 11 analysts rate stock 'buy' or higher, one 'hold;'
median PT is 35.5 rupees - Refinitiv Data
    ** As of last close, stock down 8.5% so far this year after
rising ~56% in 2022

($1 = 81.9100 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))