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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

Nitin Chugh, Ujjivan Small Finance Bank
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Nitin Chugh, Ujjivan Small Finance Bank

Nikita Vashisht New Delhi
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,

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