Ujjivan Bank share price skyrockets! Experts dub it Multibagger stock, say it is a money-spinner for investors going forward
Stock market experts suggest investors to buy Ujjivan Bank shares at around Rs 45 for up to one year until it hits Rs 100 levels as it is set to be a multibagger stock.
Multibagger stock: Ujjivan Small Finance Bank IPO had a bumper listing yesterday - it gave stock market investors up to 60 per cent returns on their money. However, if we go by the share market experts' views, there can be around 15-20 per cent correction in the Ujjivan Bank share price and it may go down to Rs 44 to Rs 45 per share — a level where one can buy the counter and hold it for six months to one year. According to them, Ujjivan Small Finance Bank share price is range-bound between Rs 36 to Rs 56 levels and after 15-20 per cent correction, it will again pick up upside momentum and hit Rs 100 per share in the long-term.
Speaking on the current status of the Ujjivan SFB shares, Prakash Pandey, MD & CEO at Plutus Advisors said, "The Ujjivan Small Finance Bank share price is range-bound between its issue price i.e. Rs 36 per stock levels to its yesterday's close price i.e around Rs 56 per Ujjivan SFB shares. I would advise Ujjivan Small Finance Bank shareholders to learn from the CSB Bank IPO performance that got listed recently. The CSB Bank shares have also gone through 15-20 per cent correction after getting listed at the BSE and NSE and then poised for an upside swing. Similarly, I am expecting the Ujjivan SFB shares to perform and hence, I would suggest Ujjivan SFB shareholders book profit at current levels and buy it again at lower levels at around Rs 44 to Rs 45 and keep on adding it further when it goes around Rs 40 levels."
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Highlighting upon the future outlook of the Ujjivan Small Finance Bank shares, Sumeet Bagadia, Executive Director at Choice Broking said, "Ujjivan Small Finance Bank shares is expected to witness correction after the bumper listing and as I said earlier one can book profit at current levels and re-enter into the Ujjivan SFB counter once the correction to the tune of 15 to 20 per cent happens. There one can buy Ujjivan SFB shares for long-term means six to one year as in this time horizon until the Ujjivan Small Finance Bank shares hit Rs 100 per stock levels."
Therefore, by going through the expert opinion, if a person buys Ujjivan SGB shares at around Rs 45 for around one-year time horizon, he can expect to get more than 100 per cent returns on his or her money invested in the small finance bank shares.