Ujjivan Small Finance Bank share hits 52-week high after this RBI action. Do you own?
1 min read 30 May 2023, 12:11 PM ISTUjjivan Small Finance Bank shares hit new 52-week high of ₹36.75 apiece during Tuesday deals on NSE
PremiumUjjivan Small Finance Bank shares saw huge buying interest among stock market bulls on Tuesday. Ujjivan Small Finance Bank share price on Tuesday opened with upside gap and went on to hit intraday high of ₹37 apiece on NSE, which is its new 52-week high as well. While ascending to its new 52-week high, Ujjivan Small Finance Bank shares logged an intraday gain of over 7.50 per cent.
Ujjivan Small Finance Bank shares shot up on Tuesday after the small finance bank informed Indian bourses that Reserve Bank of India ((RBI) has withdrawn the nominee director from SFB's board. The small finance bank informed about the RBI's move citing, "This has reference to our letter reference number USFB/CS/SE/2021-22/72 dated November 29, 2021, wherein we had intimated that the Reserve Bank of India (RBI) vide its letter dated November 29, 2021, had appointed Mr. P.N. Raghunath, then General Manager, RBI, Bengaluru, Regional Office as an Additional Director on the Board of the Bank for a period of 2 (Two) years with effect from November 29, 2021 to November 28, 2023 or till further orders, whichever is earlier," adding, "In this connection, please be informed that the RBI vide its letter dated today, May 29, 2023 has advised that Mr. P.N. Raghunath shall cease to be Additional Director on the Board of the Bank with immediate effect i.e. effective from today May 29, 2023."
Ujjivan Small Finance Bank share price history
After ushering in new financial year 2023-24, Ujjivan Small Finance Bank shares have been in uptrend. In last one month, Ujjivan Small Finance Bank share price has surged from around ₹28 to ₹36.75 apiece levels, delivering around 30 per cent return to its shareholders. In YTD time, this small finance bank share has delivered 25 per cent return to its shareholders.
