Ujjivan Financial Services Ltd’s (UFSL) shares hit a 52-week high of Rs 200.65 after they rallied 9 per cent on the Bombay Stock Exchange (BSE) on heavy volumes. Non-banking finance company (NBFC) ‘s stock has surpassed its previous high of Rs 191.80 in November of last year.

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The shares grew nearly twice the trading volumes on the counter over their two-week average trading volumes. A combined 2.3 million equity shares had changed hands on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). In the past six months, UFSL’s market price has zoomed 102 per cent, compared with 8 per cent in the S&P BSE Sensex. On July 28, 2016, the company’s stock hit a record high of Rs 547.

“RBI, in March 2022, issued new directions for microfinance lending and has eased microfinance regulations. For the long term, we feel that the opportunity is huge as penetration in the Indian market is still low,” HDFC Securities said on August 1, 2022.