highlights
This stock had hit the market on Friday.
Investors were given 60 per cent listing gain.
Brokerage still expects 56 percent more growth.
Utkarsh SFB Share Price : The shares of Utkarsh Small Finance Bank, which entered the stock market only last week, have doubled the money of the shareholders in just 2 trading days. Last Friday, the shares of Utkarsh Small Finance were listed on BSE and NSC at a premium of 60 per cent. In the IPO, investors got shares at Rs 25, while it was listed at Rs 39.95 on BSE and Rs 40 on NSE. Even today, the momentum in this stock remained intact. The stock jumped 17 per cent to Rs 56.30 on the BSE in intraday. In the evening, the stock closed at Rs 51.19 (Utkarsh Share Price) with a gain of 6.78 per cent. In this way, the money of those who got shares in IPO has doubled in just 2 days.
Significantly, Utkarsh SFB IPO got tremendous response from the investors. This IPO of Rs 500 crore was open between 12-14 July. Overall this issue was subscribed 110.77 times. In this, the share of Qualified Institutional Investors (QIB) was 135.71 times, the share of Non-Institutional Investors (NII) was 88.74 times and the reserved share of retail investors was 78.38 times. Employees’ share was subscribed 18.02%. The investors who showed great enthusiasm towards the IPO were also not disappointed and made a profit of 60% on the listing itself. Now on the second trading day also the stock has given tremendous profit.
Read this too- Deadline to change 2000 notes will increase, 500 note will also be closed, 1000 rupee notes will come? Government replied
Share can go up to Rs 80
According to a Moneycontrol report, according to Anuj Gupta, Vice President of domestic brokerage firm IIFL Securities, this stock can reach Rs 80 in just a month. This means that according to today’s closing price, it can climb up to 56 percent more. Anuj Gupta says that investors must keep a stop loss of Rs 38 on this stock.
Utkarsh SFB is the third largest small finance bank in terms of gross loan portfolio. In the financial year 2019-23, its gross loan portfolio increased by a CAGR of 31 per cent to Rs 14,000 crore. This is the reason why the brokerage is still seeing a lot of strength in this banking stock.
(Disclaimer: The stocks mentioned here are based on the advice of the brokerage houses. If you want to invest in any of these, first consult a certified investment advisor. News18 will not be responsible for your profit or loss of any kind.)
,
Tags: business news in hindi, multibagger stocks, stock market, stock tips
FIRST PUBLISHED : July 25, 2023, 07:00 IST