Buy Bandhan Bank, target price Rs 334: ICICI Direct
Bandhan Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 49766.00 Crore).
By ETMarkets.com | Updated:
Promoters held 40 per cent stake in the company as of Aug 2020, while FIIs held 27.3 per cent, DIIs 4.9 per cent and public and others 27.8 per cent.
ICICI Direct has given a buy rating to Bandhan Bank with a target price of Rs 334. The share price moved up by 0.98 per cent from its previous close of Rs 306.05. The stock’s last traded price is Rs 309.25.
Bandhan Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 49766.00 Crore).
Financials The Bank reported a Gross Non Performing Assets (Gross NPAs) of Rs 1006.67 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 335.78 Crore (.00% of total assets). For the quarter ended 30-06-2020, the company reported a Standalone Interest Income of Rs 2621.96 Crore, up 6.44 % from last quarter Interest Income of Rs 2463.24 Crore and up 14.91 % from last year same quarter Interest Income of Rs 2281.71 Crore. The bank reported net profit after tax of Rs 549.82 Crore in latest quarter.
Investment Rationale The brokerage expects the stock to continue with its current up move and test levels of Rs 334 in the coming sessions as it is the 61.8% retracement of the entire last three months corrective decline (Rs 402-251) placed around Rs 340 levels. Promoter/FII Holdings Promoters held 40 per cent stake in the company as of Aug 2020, while FIIs held 27.3 per cent, DIIs 4.9 per cent and public and others 27.8 per cent.
