Penny stocks under Rs 100: SMC enters into partnership with this small-cap bank to offer 3-in-1 accounts to its 76,00,000 customers!

The stock reached an intraday high of Rs 50.10 and an intraday low of Rs 49.50.

SMC Global Securities Limited announced a strategic partnership with Ujjivan Small Finance Bank (Ujjivan SFB) to offer online trading services to the Bank’s customers. This association will offer services comprising Savings, Demat and Trading accounts, providing a hassle-free and convenient trading experience to Ujjivan SFB’s customers.

The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB’s extensive pan-India presence, serving over 76 lakh customers. In this arrangement, SMC Global will handle the trading and demat accounts relationship of Ujjivan SFB customers.

SMC will offer full and discount brokerage services to the bank’s customers. Existing Ujjivan SFB customers can open a demat account through the Ujjivan SFB mobile banking app

About SMC Global Securities Limited: SMC Global Securities Ltd. (SMC) is a financial services company that was founded in 1994. Its primary business is stock broking, but it also offers other services such as trading, arbitrage, wholesale and retail debt market, depository activities, distribution of financial services, and research support services. SMC has a well-diversified business model and is present in almost all important segments of the financial services sector. The company has a market cap of over Rs 800 crore.

About Ujjivan Small Finance Bank Limited: Ujjivan Small Finance Bank Limited is a mass market-focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country. It started its operations as Ujjivan Financial Services Limited, a Non-Banking Financial Company in 2005 with the mission to provide financial services to the ‘economically active poor’ who were not adequately served by financial institutions. The company has a market cap of Rs 9,740 crore.

On Tuesday, Ujjivan Small Finance Bank's stock price rose 0.97 per cent to Rs 49.80 per share, from its previous closing price of Rs 49.32 per share. The stock reached an intraday high of Rs 50.10 and an intraday low of Rs 49.50.

On the same day, SMC Global Securities Limited’s stock price gained 0.49 per cent to Rs 79.51 per share, from its previous closing price of Rs 79.12 per share. The stock reached an intraday high of Rs 80.05 and an intraday low of Rs 79.15.

Investors should keep an eye on these Penny Stocks under Rs 100.

Disclaimer: The article is for informational purposes only and not investment advice.