RBI grants Ujjivan Financial Services ‘scheduled bank’ status
DSIJ Intelligence / 30 Aug 2017
The stock of Ujjivan Financial Services was creating quite a stir on the bourses during early morning hours on Wednesday, increasing by over 5% on the BSE.
As per a BSE filing of Tuesday, Ujjivan Financial Services has informed that Ujiivan Small Finance Bank, a wholly-owned subsidiary of the company, has been included in the second schedule to the Reserve Bank of India Act, 1934 on August 25, 2017, granting ‘scheduled bank’ status to Ujiivan Small Finance Bank.
As such, the stock of Ujjivan Financial Services was creating quite a stir on the bourses during early morning hours on Wednesday, increasing by over 5% on the BSE. The stock was trading at Rs 340.50 per share, up by Rs 15.40 or 4.74% as at 0918 hours on Wednesday, on the BSE.
The stock attracted a traded volume of 5,45,226 shares and traded value of Rs 1,872.85 lakhs on the NSE. The company had hit its 52-week high of Rs 484.90 on October 4, 2016, and 52-week low of Rs 284.85 on December 26, 2016, on the NSE.
Ujjivan Financial Services is a non-banking finance company engaged in the microfinance lending business. The company’s products and services include microfinance, micro and small enterprise business (MSE) finance, agriculture and animal husbandry finance, etc.