India's Ujjivan Small Finance Bank surges on rise in Q3 earnings

Ujjivan Small Finance Bank

02/02/2023 08:32

** Shares of Ujjivan Small Finance Bank  UJJI.NS  rise as
much as 7.85% to 30.90 rupees, a two-week high
    ** Trading volume is 9.97 mln shares as of 1:38 p.m. IST,
0.9x the 30-day avg of 11.7 mln shares
    ** Company reports rise in net profit and interest earned in
the third quarter
    ** The bank that operates through treasury, retail banking
and corporate segments, posted an improvement in its asset
quality, with gross non-performing assets falling to 3.64% from
5.06% in the previous quarter
    ** Overall disbursements for the quarter remained strong and
aided growth, says MD and CEO Ittira Davis
    ** Adds lender is poised to grow at healthy rate
    ** 11 of the 12 analysts tracking the company maintain "buy"
and one suggests "hold;" median PT is 34 rupees
    ($1 = 81.6970 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))