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Ujjivan Financial Services shares surge 11% after robust Q4 numbers; volumes spike 200%

Ujjivan Financial Services shares surge 11% after robust Q4 numbers; volumes spike 200%
May 28
12:04 2020

Ujjivan Financial Services share price surged over 11 percent intraday on May 28 after the company’s net profit rose 48.41 percent to Rs 64.04 crore in the quarter ended March 2020 as against Rs 43.15 crore during the previous quarter ended March 2019.

Sales of the company rose 38.2 percent to Rs 786.49 crore in the quarter ended March 2020 as against Rs 569.11 crore during the previous quarter ended March 2019.

Its consolidated income during the quarter under review rose to Rs 805.20 crore as against Rs 590.01 crore in the same period a year ago, according to a regulatory filing.

The stock price has jumped over 15 percent in the last three days and was quoting at Rs 174.60, up Rs 18.20, or 11.64 percent. It has touched an intraday high of Rs 175.50.

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The stock touched upper circuit of Rs 172 and witnessed spurt in volume by more than 2.86 times. It was trading with volumes of 774,788 shares, compared to its five day average of 227,156 shares, an increase of 241.08 percent.

The board of directors has proposed a final dividend at the rate of Re 0. 80 per share (8 percent) for the FY 2019-20, Ujjivan Financial Services said. The company with approval of the board has appointed Samit Ghosh, ex-CEO and MD, as non-executive director with effect from April 1, 2020, it said in a filing to the exchanges.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, Ujjivan Financial Services has zero promoter pledge with FII/FPI or institutions increasing their shareholding. However, Moneycontrol technical rating is neutral with technical indicators being neutral.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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