Shares below Rs 50: This stock surged more than 40 per cent in just 6 months!

The stock has witnessed heavy buying as it has given returns of more than 55 per cent in just 1 year and more than 40 per cent in 6 months

On Tuesday, shares of Ujjivan Small Finance Bank zoomed more than 3.5 per cent to make an intraday high of Rs 30.30. The scrip is currently trading close to its 52-week level of Rs 33.50, which was made on December 14, 2022.   

For the quarter ended December 2022, Ujjivan Small Finance Bank’s gross loan book jumped 33 per cent from December 2021 to Rs 21,895 crore. Total deposits surged 49 per cent from last year’s same quarter to Rs 23,154 crore. The company’s retail deposits increased more than 70 per cent from previous year’s same quarter to Rs 14,484 crore. The bank’s net profitability stood at Rs 293 crore in the December 2022 quarter as compared to a loss of Rs 338 crore in the December 2021 quarter.   

Ujjivan Small Finance Bank Limited is an Indian mass-market bank that caters to financially unserved and underserved segments and is dedicated to increasing financial inclusion in the country. It began operations in 2005 as Ujjivan Financial Services Limited, a Non-Banking Financial Company, with the mission of providing financial services to the "economically active poor" who were underserved by financial institutions.  

The stock has witnessed heavy buying as it has given returns of more than 55 per cent in just 1 year and more than 40 per cent in 6 months. Keep a close eye on this trending stock.