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?
The Indian stock market is trading on a handsome note with Sensex jumping 307.99 points or 0.76 percent at 40889.70 while the Nifty gained 74.70 points and is trading at 12046.50.Nifty Metal is the outperforming sector, up 2 percent following news that the United States had reached a "deal in principle" with China to resolve a trade war that has rattled markets for nearly two years.Close The top gainers included Vedanta, Tata Steel, Hindalco Industries, Coal India, NALCO, SAIL, Hindustan Copper and Hindustan Zinc. related news BoB shares climb over 3% after share purchase agreement with Ansa Merchant Bank Mastek share price up 9% on stake sell in Majesco USA PSU Banks are also buzzing led by Oriental Bank of Commerce, Union Bank of India, State Bank of India, Syndicate Bank, Central Bank of India, Canara Bank, Bank of Baroda and Bank of India.Nifty Auto added a percent led by Tata Motors, Bharat Forge, Motherson Sumi Systems, Ashok Leyland, … [Read more...] about D-Street Buzz: PSU Bank, metal stocks shine led by SBI, Vedanta; Tata Motors up 3%, pharma drags
Benchmark indices continue to trade on a positive note with Nifty up 37 points at 11,833 while the Sensex gained 108 points and is trading at 39,542 level.Infra, Metal and the Pharma index are all up over a percent in this afternoon session. The top gainers from the infra space are CG Power, Engineers India, Adani Ports, IRB Infra, GMR Infra, NBCC, Power Grid, Tata Power and Larsen & Toubro.From the metal space, Hindustan Zinc, Hindustan Copper, JSPL, JSW Steel, SAIL, Vedanta and Welspun Corp.Close The top gainers from the pharma space include Aurobindo Pharma, Sun Pharma, Cadila Healthcare, Lupin, Dr Reddy's Labs and Cipla. 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 From the BSE midcap space, the top gainers are Reliance Infra which zoomed over 21 percent … [Read more...] about D-Street Buzz: ADAG stocks rally led by Reliance Infra; YES Bank jumps 4%
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