Ujjivan Financial Services was trading almost 5 percent higher on August 16 morning after BNP Paribas Arbitrage and Abakkus Emerging Opportunities Fund picked up a 1.5 percent stake in the non-banking finance company.
On August 14, Newquest Asia Investments II sold 30 lakh equity shares, or 2.46 percent stake, in Ujjivan Financial Services in the open market at an average price of Rs 495.19 a share. Abakkus Emerging Opportunities Fund-1 acquired 11.50 lakh shares and BNP Paribas Arbitrage 6.79 lakh, the company said.
Read more: Entity offloads Ujjivan Financial Services shares for Rs 148 crore
The Bengaluru-based NBFC’s net sales grew by 36.66 percent year-on-year in the June quarter at Rs 1,375.05 crore but the quarterly net profit declined 10.65 percent to Rs 219.92.
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Earnings before taxes, depreciation and amortisation grew 29.45 percent year-on-year to Rs 946.27 percent.
At 10,30, the stock was trading at Rs 523.45 on the National Stock Exchange, up by nearly 5 percent from the previous close. The share volumes were 813,324, lower than the 20-day average of 843,237.
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