Ujjivan Financial Services gained 1.11% to Rs 241.55 after Aberdeen Standard Investments (Asia) raised stake in the microfinance lender by 0.2096% to 5.0825% via open market purchase on 29 June 2020.
On 29 June 2020, Aberdeen Standard Investments (Asia) purchased 2.55 lakh equity shares or 0.20% stake in Ujjivan Financial Services. Accordingly, Aberdeen's stake in the company increased to 5.08% stake from 4.87%.
On the technical front, the stock's RSI (relative strength index) stood at 66.992. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading between its 50-day moving average (DMA) placed at 187.03 and its 200-day moving average (DMA) placed at 273.88.
Ujjivan Financial Services' consolidated net profit surged 79.40% to Rs 77.43 crore on a 36.5% rise in total income to Rs 805.20 crore in Q4 March 2020 over Q4 March 2019.
Ujjivan Financial Services is a non-banking finance company engaged in the micro finance lending business.
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