UGRO Capital climbs on launching GRO X App!

UGRO Capital climbs on launching GRO X App!

by 5paisa Research Team Last Updated: Apr 06, 2023 - 03:47 pm 394 Views

The shares of the company gained about 4% in today’s trade.     

UGRO Capital has launched GRO X App

UGRO Capital has launched GRO X App, a credit line on UPI for MSMEs. It will enable small business owners, retailers, traders, professionals, and small manufacturers across India to obtain collateral-free instant credit for immediate working capital requirements and to manage their financial liquidity. The company has recently unveiled its first brand campaign to demonstrate its technological prowess, superior underwriting, and instant loan solutions for last-mile MSMEs.

 Over 63 million MSMEs in India employ more than 110 million people and account for nearly 30% of the country's GDP. However, a lack of timely credit prevents them from realising their potential. U GRO Capital's newly launched GRO X App aims to address this small business credit need by utilizing data analytics and technology to provide flexible and affordable credit to MSMEs 

Share price movement of Ugro Capital Limited

Today, the stock opened at Rs 150.50, with a high and low of Rs 156.85 and Rs 150.50. The stock previously closed at Rs 149.35. The stock closed trading today at Rs 155.30, up by 3.98%.

The promoters holding in the company stood at 2.87%, while Institutions and Non-Institutions held 8.98% and 88.13%, respectively.

The stock has a 52-week high of Rs 211.50 and a 52-week low of Rs 130.90. The company has a market capitalisation of Rs 1,095 crore.

Company profile 

UGRO Capital Limited is engaged in providing financial services. The company is a technology-focused (data-centric & technology-enabled approach), small business lending platform. The company is focused on addressing the capital needs of small businesses operating in select eight sectors by providing customized loan solutions.

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