Stocks To Buy | 26 May 2024
📈 Ujjivan Small Finance Bank is showing strong performance in the stock market. The bank recently announced its results for the March 2024 quarter and full financial year.
📊 Ujjivan Small Finance Bank has reported a record net profit of ₹1,281 crore for 2023-24. The bank’s return on assets is 3.5% and return on equity is 26.1%.
💼 The bank has made significant improvements in its NPA ratio. Ujjivan Small Finance Bank’s shares closed at ₹52.90 on Friday, May 24, 2024.
💰 According to analysts at MK Global, Ujjivan Small Finance Bank’s shares could touch ₹65 in the coming days, which is 22-23% higher than the current price.
📈 The bank’s loan growth has been recorded at 25% on a year-on-year basis. The bank has also seen a significant improvement in its margins.
🔮 The management board believes that the bank’s credit growth could reach up to 20-25% in the coming years. The net interest margin is expected to increase to 9% in the financial year 2024-25.
💸 In the March 2024 quarter, Ujjivan Small Finance Bank’s net interest income increased by 27% to ₹934 crore. The bank’s net interest margin was recorded at 9.4%.
📊 The bank’s pre-provisioning operating profit increased by 26% to ₹519 crore. Ujjivan Small Finance Bank reported a 7% growth in net profit for the March 2024 quarter.
📈 Overall, the bank has shown a 23% growth in total deposits and a 24% increase in loan book size on an annual basis. The gross NPA stands at 2.1% and net NPA at 0.3%.
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