Ujjivan shares fall 4% after RBI restricts FII buying

Shares of Ujjivan Financial Services ended nearly 4 per cent lower today after the Reserve Bank put the company on its ban list for foreign investment.
After falling 4.79 per cent to Rs 372.35 in intra-day trade on BSE, shares of the company finally ended at Rs 378.10, down 3.32 per cent from its previous close.
On NSE, the stock fell 3.73 per cent to settle at Rs 377.50.
On the volume front, 9.16 lakh shares of the company were traded at BSE and over 39 lakh shares changed hands at NSE during the day.
The aggregate foreign shareholding through foreign institutional investors, registered foreign portfolio investors, foreign direct investment, non-resident Indians, American Depository Receipts, Global Depository Receipts and persons of Indian origin in Ujjivan Financial Services has crossed the permissible limit, RBI had said yesterday.

"Hence... No further purchase of shares of this company would be allowed through stock exchanges in India on behalf of FII, RFPI, FDI, NRI, ADR, GDR and PIO," RBI had said in a release.
The Bengaluru-based Ujjivan Financial Services is one of the recipients of the small bank licence granted by RBI last year.