Investor got disappointed after buying shares at Rs 30
Business Business: Strong buying was seen in the shares of UY Fincorp today on Tuesday. Shares of non-banking financial company (NBFC) UY Fincorp Limited rose by more than 17% today. Shares of UY Fincorp reached an intraday high of Rs 35.74 today. There is an important reason for this rise in the stock. Actually, the shares of the company will be listed on the National Stock Exchange (NSE) on October 3. At present, this stock is available for trading only on BSE. Shares of UY Fincorp rose 17.1 percent to an intraday high of ₹ 35.74 today. The closing price on Monday was Rs 30.50. Today the market capitalization of the company stood at Rs 659.56 crore. We would like to inform you that the company was confirmed to list on NSE after receiving a letter from the exchange on September 30, 2024. A total of 19,02,38,329 fully paid-up shares of ₹5 each will be admitted for trading on the NSE. This new development represents a significant milestone for UY Fincorp and signals its continued growth and expanding role in the Indian financial sector.
UY Fincorp’s annual revenue grew 245.06 percent to ₹197 crore in the previous financial year. Meanwhile, quarterly revenue grew 71.87 percent year-on-year (YoY) to ₹36 crore in the first quarter of FY25. The company’s earnings growth was even more impressive, with annual net profit growing 738.2% to ₹64.92 crore in FY24. We would like to inform you that UY Fincorp is a debt-free company.
According to an official press release, the company has expanded its presence by launching the GroU Credit brand initially in Lucknow and Kanpur. It plans to expand further in regions such as Prayagraj and Varanasi. The company said its focus is on digitising small loans.
