Ujjivan Small Finance Rises Over 6% After 29% Jump In Q3 Deposits

Shares of Ujjivan Small Finance Bank Ltd. rose over 6% on Thursday after its total deposits jumped in the third quarter.

The company's total deposits grew 29% year-on-year to Rs 29,869 crore in the quarter ended December, according to an exchange filing.

The lender's disbursement grew 17% on an annualised basis to Rs 5,675 crore. Ujjivan Small Finance Bank's CASA ratio was 25.3% of the total deposit, rising 26.2% year-on-year in the September-December period.

Shares of the company surged 6.42% to Rs 60.50 apiece, the highest level since Dec 20. It pared gains to trade 3.96% higher at Rs 59.10, compared with a 0.42% advance in the NSE Nifty 50 Index.

It has risen 95.86% in the past 12 months. Total traded volume so far in the day stood at 5.7 times its 30-day average. The relative strength index was at 59.31.

Fifteen analysts tracking the company maintain a 'buy' rating, according to Bloomberg. The average 12-month consensus price target implies an upside of 6.1%.