highlights
This stock was launched on Friday.
Investors were rewarded with a listing gain of 60 percent.
The brokerage continues to anticipate 56 percent more growth.
Utkarsh SFB Share Price: Utkarsh Small Finance Bank shares, which went public just last week, have doubled shareholders’ money in just two business days. Last Friday, Utkarsh Small Finance shares were listed at a premium of 60 percent on the BSE and NSC. At the IPO, investors received shares at Rs. 25, while they were listed at Rs. 39.95 on the BSE and Rs. 40 on the NSE. Even today, the momentum of this stock is intact. The stock rose 17 percent to Rs.56.30 in intraday trading on the BSE. In the evening the stock closed at 51.19 rupees (Utkarsh share price) up 6.78 percent. That’s how the money of those who received shares in the IPO has doubled in just two days.
Significantly, the IPO of Utkarsh SFB was well received by investors. This IPO valued at 500 crore rupees took place on July 12-14. In total, this issue was subscribed to 110.77 times. The proportion of qualified institutional investors (QIB) was 135.71 times, the proportion of non-institutional investors (NII) was 88.74 times, and the reserved proportion of retail investors was 78.38 times. The employee share was subscribed at 18.02%. Investors who were very enthusiastic about the IPO were not disappointed either, making a 60 percent gain on the IPO itself. Now, the stock has made huge gains on the second day of trading as well.
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The share can be up to 80 rupees
According to a Moneycontrol report, this stock can hit 80 rupees in just a month, according to Anuj Gupta, vice president of domestic brokerage firm IIFL Securities. This means that it can continue to rise by up to 56 percent according to today’s closing price. Anuj Gupta says investors must keep a stop loss of 38 rupees on this stock.
In terms of gross loan portfolio, Utkarsh SFB is the third largest small financial bank. Its gross loan portfolio grew to Rs.14,000 crore in FY2019-23 at a CAGR of 31 percent. Because of this, the broker still sees this bank stock strongly up.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you are interested in investing in these stocks, please consult a certified investment adviser first. News18 accepts no responsibility for your gains or losses of any kind.)
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Keywords: Business news in Hindi, Multibagger Stocks, stock market, Stock Tips
FIRST RELEASED : July 25, 2023 at 7:00 AM IST
