Shares of micro-finance lender Ujjivan Financial hit 1-1/2-mongh high as its subsidiary has been granted “scheduled bank” status.
The shares jumped as much as 6.4 per cent to Rs 346.75, their highest since July 14.
Ujjivan Small Finance Bank, a subsidiary of Ujjivan Financial, has been granted “scheduled bank” status by the Reserve Bank of India (RBI), one of the categories of lenders determined by the central bank.
The stock was on track for a fifth straight session of gains.