Ujjivan Small Finance Bank, the subsidiary of microfinance lender Ujjivan Financial Services started its first trade at Rs 58 on the Bombay Stock Exchange on December 12.The stock listed with a premium of 56.75 percent over the issue price of Rs 37 per share.The premium was warranted considering the tremendous response to the Rs 750-crore public issue and improvement in earnings along with asset quality in April-September 2019 against previous years, experts feel.Close "Premium listing was justified as the issue was well priced with attractive valuation when compared to other listed small bank peers which are trading higher price-to-book value, leaving something on table to the IPO investors. Better asset quality and experienced management with pan-India presence provided comforts to investors at the time of subscription," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol. related news Ujjivan Small Finance Bank IPO: Analysts expect 50% listing premium … [Read more...] about Robust listing: Ujjivan Small Finance Bank debuts with 56% premium at Rs 58
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Ujjivan Small Finance Bank listed with a massive 56 percent premium over its issue price on December 12 despite volatility in the market.The stock touched an intraday high of Rs 62.8 on the National Stock Exchange (up 70 percent) after opening at Rs 58.75 against IPO price of Rs 37. The bumper listing was on expected lines given the strong response received for the company's IPO.Combined volume on BSE and National Stock Exchange was more than 20 crore equity shares.Close Ujjivan Small Finance Bank (USFB) is a subsidiary of microfinance lender Ujjivan Financial Services. related news Morgan Stanley bullish on NTPC, Adani Ports and L&T Infotech Initiating coverage: HDFC AMC and M&M among 10 stocks that could return 10-40% in 2020 Most experts are now advising investors to hold the stock for longer term on the back of good fundamentals. Though some suggest investors can do partial profit booking and hold the rest for longer term."Ujjivan SFB's … [Read more...] about Ujjivan Small Finance Bank: Should investors buy, sell or hold after the bumper listing?
Shares of Ujjivan Small Finance Bank closed with a gain of 51 percent on the listing day, December 12, on the back of buying interest from investors and strong subscription seen during IPO.The stock closed at Rs 55.90 on the BSE, a gain of 51.09 percent, or Rs 18.90 over issue price of Rs 37. It touched an intraday high of Rs 62.80 and low of Rs 53.10 after listing at Rs 58.On the National Stock Exchange, it rallied 51.22 percent to end at Rs 55.95 after hitting a day's high of Rs 62.80 and low of Rs 53.05. The opening price was Rs 58.75.Close Ujjivan SFB traded with volumes of 25.14 crore shares on the NSE and 1.61 crore shares on the BSE. related news Sterling & Wilson Solar share price gains 3% after Australian arm executes order Hikal share price jumps 12% as Panoli plant receives EIR from USFDA HDFC becomes the 5th firm to cross Rs 4 lakh crore in market cap "The experience of Ujjivan Financial Services as an erstwhile microfinance institution, coupled with the … [Read more...] about Ujjivan Small Finance Bank gains 51% on the first day
Out of 15 companies that launched their IPOs in 2019 only seven stocks listed with double-digit gains.The issues that fared well were on the back of strong fundamentals of the company and in some of cases monopolistic market and niche business areas.Indian Railways Catering and Tourism Corporation (IRCTC), the only catering and ticket services provider to railways, witnessed the maximum listing gains of 101.3 percent on its first day - October 14. TheClose Rs 645-crore public issue was oversubscribed by 112 times during September 30-October 3. related news Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win D- Street Buzz: PSU banks surge on likely resolution of 4 NPA cases; Indiabulls Housing most active It was a multibagger stock this year, rallying 172 percent so far.The company has also diversified into other businesses, including … [Read more...] about IPO meter: Only 7 out of 15 stocks listed with double-digit gains this year
The Indian benchmark indices continues to trade in the green but is off the high point of the day with Nifty up 23 points at 11,869 while the Sensex added 77 points and is trading at 39,669 level.Nifty Realty is up over 2 percent led by Godrej Properties, Prestige Estates, Oberoi Realty, Sobha, Sunteck Realty, Indiabulls Real Estate, Unitech and Brigade Enterprises.Auto stocks continue to buzz led by Tata Motors and Tata Motors DVR which jumped over 3 percent each followed by Ashok Leyland, Eicher Motors, Motherson Sumi Systems and Mahindra & Mahindra.Close India VIX is down 2.17 percent and is trading at 14.43 levels. related news Market Live: SGX Nifty indicates a positive opening for Indian indices SBI Cards to list commercial paper on BSE for an issue size of Rs 400-cr Trade Setup for Friday: Top 15 things to know before Opening Bell From the banking space, the top gainers are Federal Bank, State Bank of India, Axis Bank, HDFC Bank, … [Read more...] about D-Street Buzz: Auto stocks gain led by Tata Motors; HDFC Bank, Titan Company at new highs