Nitin Chugh's exit, provisioning concern to weigh on Ujjivan SFB: Analysts

Including Monday's intra-day fall of 9.6 per cent, the stock of Ujjivan Small Finance Bank has tumbled 31 per cent in six days

The resignation of Nitin Chugh, managing director and CEO of Ujjivan Small Finance Bank has triggered a panic selloff in the stock as the scrip has plunged 23 per cent on the BSE over the past one week as against a 0.1 per cent decline in the benchmark S&P BSE Sensex. 
 

Including Monday’s intra-day fall of 9.6 per cent, the stock has tumbled 31 per cent in six days. In comparison, the S&P BSE Sensex was ruling 0.4 per cent higher in today’s intra-day deals.
 

Chugh’s resignation comes in the midst of the bank's persistent underperformance on asset quality front,