Geojit is bullish on Ujjivan Small Finance Bank has recommended buy rating on the stock with a target price of Rs 62 in its research report dated August 24, 2023.
Local bonds have been tracking U.S. yields, but they have not fallen much as inflation worries continue to hurt," said Rajeev Pawar, head of treasury at Ujjivan Small Finance Bank
The central bank has raised the repo rate by 250 basis points since May 2022. For the fiscal year 2023-24 (FY24), the central bank has projected consumer price index (CPI) inflation at 5.1 percent
"Our sense is that the markets might just settle down after the big correction that we have probably seen and a typical sectoral rotation will be at play. We have already seen pharma starting to hog the limelight. More defensives will probably come up in terms of the sectoral rotation as we consolidate over the next few days."
According to a Fitch Report, Jana Small Finance Bank is the fourth-largest small finance bank in terms of AUM and deposit size as of March 31, 2023. The bank had 754 banking outlets, including 272 banking outlets in unbanked rural centres, in 22 states and two union territories as of March 31, 2023. It has served nearly 12 million customers since 2008, including 4.57 million active customers as of March 31, 2023, the DRHP claimed.