BSE-listed Penny Stock: U Y Fincorp, a Non-Banking Financial Company (NBFC) and BSE-listed penny stock, witnessed a 16 per cent increase in its share price on October 1, 2024, ahead of its listing on the National Stock Exchange (NSE) scheduled for October 3, 2024.

The company’s shares, which are already trading on the Bombay Stock Exchange (BSE), will now be admitted to dealings on the NSE under the symbol “UYFINCORP.”

After surging by around 16 per cent, U Y Fincorp’s share price was trading in the green, up 13.67 per cent, at ₹34.67 on October 1, 2024, at 2:25 pm, on BSE. The company enjoys a market capitalisation of ₹659.56 crore. U Y Fincorp stock price hit a 52-week high at ₹36.46, as per BSE.

The NSE listing was confirmed after the company received a letter from the exchange on September 30, 2024.

The company will be trading 19,02,38,329 fully paid equity shares of ₹5 each. This new development is a major milestone for U Y Fincorp, indicating the company’s ongoing growth and its expanding role in India’s financial services sector.

U Y Fincorp financial performance

The annual revenue of U Y Fincorp shot up by 245.06 per cent in the last fiscal year, reaching ₹197 crore, while its quarterly revenue also saw a 71.87 per cent year-on-year rise, hitting ₹36 crore in Q1FY25. As per an official statement, profits were even more remarkable, with annual net profit climbing by 738.2 per cent to ₹64.92 crore in FY24.

Interestingly, U.Y. Fincorp operates debt-free, giving it more room to fuel future growth, the company added.

According to an official release, the company has also broadened its reach by launching its loan brand, GrowU, initially in Lucknow and Kanpur. It plans to expand further into regions like Prayagraj and Varanasi.

The company is focused on digitizing small-ticket loans, maintaining a monthly disbursement rate of ₹100 lakhs with interest rates ranging between 24 per cent and 30 per cent, the company claimed.

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