Following Ujjivan s earnings, several top brokerages recommended a Buy stance on the counter. While Emkay retained its buy rating on for a target price of Rs 58, HDFC Securities has an Add recommendation for a target of Rs 50. ICICI Securities was most bullish in terms of targets and pegged it at Rs 60.
Ujjivan Small Finance Bank: Emkay Global has raised its FY24-26 earnings estimates by 5-17 per cent and expect bank to log the best return on asset of 2.5-3.4 per cent and return on equity of 22-28 per cent during the period.