Ujjivan Financial stock doubles in six months and reaches a 52-week high

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Last Updated on August 24, 2022 by Bitfinsider

In a largely subdued market on Wednesday, shares of Ujjivan Financial Services (UFSL) rose nearly 10% to a new 52-week high on strong volume. 

The stock increased from its 52 week low of 96.10 on February 24, 2022, to 202.35 in intraday trading today, more than doubling investors’ money in the previous six months. 

On November 1, 2021, the stock achieved a previous high of $191.80, and on July 28, 2016, it reached an all-time high of $547.

The share price of Ujjivan Financial began trading slightly higher on Wednesday at 183.95, up from the previous day’s closing price of 183.80 on the BSE. 

The non-banking financing company’s (NBFC) shares increased as much as 10.09% during the session to reach a record high of 202.35 as trade volumes increased by more than four times compared to the two-week average trading volumes. 

2.24 lakh equity shares were traded on the BSE up to the time of reporting, vs 0.56 lakh stocks traded over the previous two weeks. 

The smallcap stock’s market value grew to 2,448.16 crore. 

The BSE Sensex, in contrast, was tracking subpar cues from international rivals and trading flat at 59,028 levels.

In the past year, shares of Ujjivan Financial have returned 28%. 

In the 2022 calendar year, the stock has increased by more than 52%. 

The counter has produced an outstanding return of 29% over the last month and more than 9% over the last week.

According to Markets Mojo, a platform for share market analysis, on August 22, 2022, at a price of $175.15, the stock technically changed from being “mildly bullish” to “bullish.” 

The stock is currently trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend.

The stock has increased in value over the past month as a result of the NBFC reporting strong results for the first quarter of the current fiscal year 2022–2023. (Q1 FY23).

Ujjivan Financial Services reported a net profit of 246.13 crores for the April-June 2022 quarter compared to a loss of 82.69 crores in the same period last year and a profit of 98.95 crores for the quarter ending March 31, 2022. (Q4 FY22). 

When compared to the same period last year and the year ending March 31, 2022, the total income climbed to 1,056.68 crores during Q1 FY23, from 736.08 crores.

Ujjivan Financial Services, an NBFC with its headquarters in Bangalore, focuses on offering financial services to economically underprivileged women in urban and semi-urban areas. 

Ujjivan gained in-principle clearance from the RBI in 2015 to establish a small finance bank, and on February 1, 2017, it floated its wholly owned subsidiary, “Ujjivan Small Finance Bank Limited,” which began operating.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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