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The Relative Strength Index of the stock stood at 42.98 on Friday.

The company has received approval from the US Food and Drug Administration (USFDA) for the product, a generic version of Pentasa extended release capsules (500 mg), the Mumbai-based drug major said in a statement.

"The bank completed the turnaround we envisaged under our 100-day plans put to execution beginning September last year," said managing director Ittira Davis, who took over the reins on January 14, filling the vacuum in leadership after the sudden exit of Nitin Chugh in August last year.

While bond yields have moved up, there has been no change in small-savings rates and a marginal rise in bank deposit rates, prompting this shift by investors. Over the last one year, the benchmark 10-year government security has moved up by 125 basis points to 7.25%.

While news reports quoting sources have said that the government was displeased with the recent surge in gilt yields, the fact remains that the RBI has very little room to manage bond yields the way it has for the last couple of years.

Veteran fund manager Saurabh Mukherjea says it is not a new trend as share prices of his consistent compounders portfolio, which includes some of the names mentioned above, often go on a ‘holiday’ for 12-24 months, delivering weak or no returns.

Promoters held 54.8 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 23.54 per cent and 12.8 per cent, respectively.

Ujjivan Small Finance Bank Ltd., incorporated in the year 2016, is a banking company (having a market cap of Rs 3024.55 Crore).

The central bank, whose foreign exchange reserves are currently just shy of $600 billion, has been said to have intervened heavily in the forwards markets of late in order to rein in the rupee’s fall.

A total of 10,554 shares changed hands on the counter till 11:16AM (IST).