Ujjivan Financial Services share price gained 3.7 percent intraday on November 22 after Macquarie maintained its neutral rating and raised its target price to Rs 325 from Rs 260 per share.
Ujjivan SFB listing is imminent and pre-IPO deal values the company at 1.7 times estimated FY21 book value, the research house said, adding that the promoter stake sale/reverse merger is now a new monitorable.
At 11:03 hours, the stock was quoting Rs 301.80, up Rs 10.70, or 3.68 percent on the BSE.
The share touched its 52-week high of Rs 371.50 and a 52-week low of Rs 166.80 on June 4, 2019 and October 26, 2018, respectively.
Currently, it is trading 18.87 percent below its 52-week high and 80.7 percent above its 52-week low.
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