Ujjivan Small Finance Bank listing on BSE, NSE: Whopping gains for investors, share price shoots up 65 pct
The Ujjivan Small Finance Bank finally got listed on both BSE and NSE on Thursday and as expected, the share price skyrocketed to Rs 61.35 (at 10:01 am), up by 65.81 per cent from its previous close.
The Ujjivan Small Finance Bank finally got listed on both BSE and NSE on Thursday and as expected, the share price skyrocketed to Rs 61.35 (at 10:01 am), up by 65.81 per cent from its previous close. Ujjivan listing happened at Rs 58 on BSE and it gained thereafter too. The Ujjivan Small Finance Bank had witnessed a massive subscription of more than 165 times last week in its Rs 750 crore IPO. It was open for subscription between December 2 and December 4 and was subscribed more than 165 times at a price band of Rs 36-37 per share. The investors who got the allotment have already received the shares in their demat accounts while for the others, funds have been unblocked from ASBA (Applications Supported by Blocked Amount).
Speaking about the Ujjivan Small Finance Bank share, Zee Business Managing Editor said that the investors should target Rs 65 while keeping Rs 55 as stop loss. He said that investors can look to book profit at around Rs 64 or Rs 65. He added that investors can expect good returns from this listing going forward.
Earlier this month, Singhvi had said that small finance banks are performing better than private banks, so investors can expect more returns from Ujjivan Small Finance Bank IPO. He added that You can also make good money from Ujjivan Small Finance Bank as compared to private banks like RBL and Bandhan Bank. Investors should go for small listing gains and should subscribe for a longer period, he revealed.
WATCH Zee Business TV LIVE Streaming Online -
Meanwhile, Sensex and Nifty rose marginally on Thursday morning after government moved to ease rules for shadow banks. The NSE Nifty 50 index rose 0.3% to 11,947 and the BSE Sensex advanced 0.3% to 40,547.80 in early trade. This came after the government approved easier lending rules for shadow banks on Wednesday to help them get more access to funds.
Government`s measures to improve the health of non-banking finance and housing finance companies always boost the sentiment of investors and increase inflows in the market, Shrikant Chouhan, senior vice-president, equity technical research, Kotak Securities said in a note.
"Technically, the market has formed a reversal formation and we would see rally towards the upper boundary of the trading range, which is at 12,000 level," he said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
01:06 PM IST