Ujjivan Small Finance Bank shares rise after BOB Capital initiates “buy” rating, citing secured lending shift and growth prospects.

• Secured loans now 43% of advances; individual unsecured loans within the MFI book are also growing steadily.
• Asset quality better than peers; MFI stress seen normalizing from H2 FY26, aiding earnings stability.
• Forecast 19% loan CAGR FY25–FY27; average analyst target ₹55; stock up 44% YTD.