Shares of Ujjivan Small Finance Bank Ltd. hit a 52-week high on Thursday after its total deposits rose in the quarter ended June.
The bank's Q1 total deposits rose 44% year-on-year and 4% sequentially to Rs 26,655 crore, while advances increased by 5% sequentially and 31% annually to Rs 25,346 crore, according to an exchange filing.
Disbursements rose 22% from the previous year to Rs 5,280 crore, while collection efficiency stood steady at 99% for the said quarter.
Deposits in current account and savings account rose 27% year-on-year to Rs 6,550 crore with the CASA ratio standing at 24.6%.
Shares of the company rose 4.55% to Rs 42.50 apiece, compared to a 0.29% advance in the NSE Nifty 50 as of 10.27 am. The stock hit its 52-week high of Rs 42.65 during early trade on Thursday.
The total traded quantity so far in the day stood at 3.6 times the 30-day average volume. The stock's relative strength index stands at 78, indicating that the stock may be overbought.
All the 16 analysts tracking the stock maintain a 'buy' on the stock, according to Bloomberg data. The consensus price estimate indicates a 7.2% upside over the next 12 months.
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