Ujjivan SFB stock: Brokerages share price targets as near-term uncertainty likely to persist 

Shares of Ujjivan Small Finance Bank Ltd slipped over 6% on Wednesday after the bank's managing director and chief executive officer (MD & CEO) Sanjeev Nautiyal sought early retirement citing health issues. After the initial correction, the Ujjivan Small Finance Bank stock recovered some lost ground and was trading 3.47% lower at Rs 63.13. Market cap of the bank fell to Rs 12,301 crore.

Ujjivan Small Finance Bank stock was still trading in the red as Nautiyal ceased to hold the positions of MD & CEO and Key Managerial Personnel effective 1st September, 2026. He will remain on leave during his 3-month notice period ending November 30, 2026.

The bank appointed Carol Furtado as the interim MD & CEO, which the RBI has approved for a period of 3 months.

The stock was trading in the red as the near-term uncertainty around the bank is likely to persist until the new MD & CEO is identified and the succession process gains greater visibility, with greater focus on seamless strategy implementation, according to Axis Securities.

Ujjivan Small Finance Bank price targets

According to brokerage Axis Securities, investors are likely to remain watchful on whether the eventual successor preserves the strategic roadmap laid out under Nautiyal and its execution ability.

The bank has reiterated that FY27 guidance remains unchanged, which should provide some comfort.

"In the event of Ms Carol Furtado being appointed as the regular MD & CEO, we believe the transition could likely be viewed as relatively smoother, given her long association with UJSFB, familiarity with its business and operations, and prior experience of managing the bank during the leadership vacuum. For now, her appointment as interim MD & CEO would provide continuity to the existing strategy. We maintain our BUY recommendation on the stock with an unchanged target price of Rs 86/share (valuing the stock at 1.8x FY28E ABV), implying an upside of 32% from the CMP. Currently, we keep our earnings estimates unchanged," said Axis Securities.

Another brokerage ICICI Securities has assigned a buy call to the stock with a price target of Rs 90.

"Under Mr. Nautiyal’s tenure, Ujjivan successfully navigated the MFI credit cycle better than the industry and effectively executed its asset diversification strategy. This is evidenced by the secured book share surpassing 50% and AUM growing strongly by 29% YoY, alongside GNPL of ~2% in Q1FY27. While the leadership transition could pose short-term execution risks, we expect the SFB’s strong second-line management and favourable industry tailwinds in microfinance to support business continuity," said ICICI Securities.