Nifty: 24008
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Nifty Today View
Nifty On | CMP | Day High | Day Low | Nifty View On | Resist 2 | Resist 1 | Trend Point | Suport 1 | Suport 2 |
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09 May 2025 | 24008 | 24164 | 23935 | 10 May 2025 | 24215 | 24068 | 23919 | 23775 | 23618 |
Nifty Last Five Days Moves
Last Day | 09 May 2025 | 24008 | 24164 | 23935 | 23908 | 23252 | 24044 | 23885 |
SNo. | Date | Day Close | Day High | Day Low | 20 SMA | 50 SMA | 200 SMA | All Avg |
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1 | 08 May 2025 | 24273 | 24447 | 24150 | 23816 | 23231 | 24048 | 23994 |
2 | 07 May 2025 | 24414 | 24449 | 24220 | 23747 | 23204 | 24049 | 24014 |
3 | 06 May 2025 | 24379 | 24509 | 24331 | 23689 | 23175 | 24050 | 24022 |
4 | 05 May 2025 | 24461 | 24526 | 24400 | 23637 | 23146 | 24051 | 24037 |
5 | 02 May 2025 | 24346 | 24589 | 24238 | 23572 | 23118 | 24050 | 23986 |
Avg: | 0 | 24375 | 24504 | 24268 | 23692 | 23175 | 24050 | 24011 |
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Ujjivan Small Finance Bank: The bank has set forth a gold standard for resilience For the second...
Posted: 24 Dec 2024
Ujjivan Small Finance Bank: The bank has set forth a gold standard for resilience For the second consecutive year, Ujjivan has won the Best Small Finance Bank award for its resilience in navigating sector stress In 2024, microfinance lenders faced considerable challenges stemming from rising delinquencies. The situation was primarily driven by borrowers acquiring multiple loans from different institutions. Increasing financial distress among those at the bottom of the pyramid further worsened the situation for the lenders. These factors contributed to increased provisioning requirements and a deceleration in credit growth. Despite these challenges, some microfinance lenders, such as Ujjivan Small Finance Bank, have successfully navigated the storm with relative ease. Thus, for the second year in a row, the Bengaluru-headquartered Ujjivan Small Finance Bank has emerged as the winner in the small finance bank category in the BT-KPMG Survey of India’s Best Banks and NBFCs. Its MD & CEO Sanjeev Nautiyal attributes the bank’s success to a combination of factors, such as robust business performance, improved recoveries, reduced credit costs, and effective cost management. “Over the last two years, the bank expanded its footprint by opening 178 new branches, taking the total to 752. Also, it has introduced innovative products like micro-mortgages, gold loans, and vehicle finance. These initiatives have laid a solid foundation for future growth,” says Nautiyal, who took over in May 2024. The bank plans to focus on consolidating its gains through asset quality management, cost optimisation, and profitability enhancement. Ujjivan’s growth narrative is supported by its strategic shift towards secured lending products. As of September 2024, the bank reduced its microfinance loan exposure to 63.7% from 69.2% in September 2022, while its housing loan portfolio rose to 19.1% from 14.7% during the same period. As of September 2024, the bank’s gross loan book reached Rs 30,344 crore, up 14% over a year ago. Despite these efforts, the bank’s ratio of gross non-performing assets to gross advances rose slightly to 2.52% in September 2024 from 2.35% a year earlier. But, it remained below the 5.06% recorded in September 2022. Moving forward, Nautiyal says, cautious growth strategies and stringent underwriting norms will ensure healthy asset quality. In addition, the recent sale of loans through an asset reconstruction company will further strengthen the asset quality and stability. Ujjivan plans to grow its secured lending segments, which includes housing, MSME loans, vehicle finance, and gold loans at a pace that surpass its overall portfolio growth. It expects these segments, with their relatively small base and high growth potential, to drive its growth at a CAGR of over 20% in the next five years. Ujjivan , which began operations in 2017, has also increased its total number of branches to 752 in just seven years. In FY24, it reported a net profit of Rs 1,282 crore compared to Rs 199 crore in FY19. To diversify its income base, Ujjivan is now focussing in on the third-party products and fee-based business lines. This strategy, experts say, will enhance Ujjivan’s non-interest income and support its core lending operations. Emkay Global Financial Services estimates that by FY27, Ujjivan’s net profit could rise to Rs 1,459 crore, with its balance sheet expanding to Rs 70,560 crore. In recent quarters, Ujjivan has faced increasing provisions and contingencies. Its provisions increased to Rs 151 crore in Q2FY25 from Rs 26 crore a year ago; the amount was Rs 110 crore in Q1FY25. Nautiyal attributes this to stress in the microfinance sector, despite robust post-pandemic recovery in FY22 and FY23. The sector’s difficulties increased in late FY24 due to factors such as geography-specific economic challenges, including floods and slowdowns. Nautiyal, however, says that the scenario of elevated provisions will persist for two more quarters before stabilising. All these factors weighed on investor sentiment. As a result, the bank’s share price has declined by 26% since April 2024. “The recent fall in microfinance-focussed players can be attributed to weak earnings,” explains Nautiyal. However, he remains confident in the resilience of Ujjivan’s microfinance business and its strategic shift towards secured lending. “As the microfinance cycle turns, our performance will rebound strongly,” says Nautiyal.
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