As per the draft papers, the bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of shares aggregating up to Rs 12,000 crore.
The company had registered a profit of Rs 44.3 crore in July-September 2018-19.
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 37 points gain or 0.34 percent. Nifty futures were trading around 11,074-level on the Singaporean Exchange.
Edelweiss has a positive business outlook on Ujjivan Small Finance Bank (USFB), but said the listing of USFB will mean dilution & holding company discount for existing shareholder.
The bank has appointed Kotak Mahindra Capital Company, IIFL Securities and JM Financial as book running lead managers to the issue.
The short-term trend for the Nifty50 remains bearish till the resistance of 11,800 is crossed decisively where we have seen aggressive call writing
Total standalone income rose to Rs 13.40 crore during the March quarter from Rs 1.99 crore in the year-ago period, it said in a regulatory filing.
In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
The stock can be sold at current levels and on the rise towards Rs 263 with a stop loss above Rs 274 for a target of Rs 230.
Asset quality was stable at the end of December quarter. Gross non-performing assets as a percentage of gross advances were lower at 1.4 percent in Q3 against 1.9 percent in Q2FY19.
"The quarter was very good for us. Net profit rose to Rs 45.2 crore on account of a 35 percent growth in disbursement at Rs 2,885 crore," managing director and chief executive Ittira Davis said.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 percent. Nifty futures were trading around 10,702-level on the Singaporean Exchange.
Contra trades can be considered such as going long on the decline on the Nifty Jan Futures in the 10,500-10,550 zone and keeping a strict stop loss around the 10,480 levels.
It is time to remain on sidelines and wait for a breakout above 10950 to go long and a breakdown below 10600 to go short on the index.
Macquarie thinks there is a case for stock to double in next three years as the improving business fundamentals are being overlooked.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 126.5 points or 1.18 percent. Nifty futures were trading around 10,612-level on the Singaporean Exchange.
The short-term momentum indicator that has been showing negative divergence has triggered bearish crossover. Thus, a top seems to be in place at the recent high of 10,941.
The coming week will be guided by macro data as well as state election results. Apart from that movement of crude oil price, rupee FIIs flows as well as trade talks will be guiding factors.
Both Equitas and Ujjivan are at a vantage position to capitalise on the weak competitive environment due to the comatose state of most public sector banks and the challenging funding environment for non-banking finance companies.
The company had registered a net loss of Rs 12 crore in the corresponding July-September period of 2017-18.
There was a fall in provisions and contingencies by 68.2 percent to Rs 37.90 crore in June quarter from Rs 119.20 crore a year ago, helping the company to register gains.
Rajesh Agarwal of AUM Capital recommends buying Indian Oil Corporation with stop loss at Rs 164 and target at Rs 174, a buy on Ujjivan Financial Services with stop loss at Rs 398 and target at Rs 417 and a buy also in Adani Transmission with stop loss at Rs 164 and target at Rs 176.
Income during the March quarter rose to Rs 460.90 crore from Rs 340 crore in the same period a year ago, the company said in a regulatory filing.
"Traders can accumulate the stock in the range of Rs 415 - 422 for target of Rs 485 with a stop loss below Rs 394," says Achin Goel, Head of Wealth Management and Financial Planning at Bonanza Portfolio.