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Last Updated : Aug 20, 2018 12:17 PM IST | Source: Moneycontrol.com

Ujjivan Financial up 3%; Kotak Securities upgrades stock to add with target Rs 420

According to Kotak, the cost growth is worrying but see peak in FY19-20, while asset quality of Ujjivan looks comfortable.

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Shares of Ujjivan Financial Services added more than 3 percent intraday Monday as broking house Kotak Securities has upgraded the stock to add from reduce rating and kept the target at Rs 420 per share.

According to Kotak, the cost growth is worrying but see peak in FY19-20, while asset quality of Ujjivan looks comfortable.

Meanwhile, healthy loan growth offers near-term comfort.

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The company had reported net profit of Rs 45 crore in Q1FY19 as against net loss of Rs 74.9 crore in Q1FY18.

The share touched its 52-week high Rs 432.05 and 52-week low Rs 302.25 on 11 May, 2018 and 22 August, 2017, respectively.

Currently, it is trading 16.48 percent below its 52-week high and 19.39 percent above its 52-week low.

At 12:01 hrs Ujjivan Financial Services was quoting at Rs 361, up Rs 9.15, or 2.60 percent on the BSE.

Posted by Rakesh Patil

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First Published on Aug 20, 2018 12:11 pm
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