Buy Bandhan Bank, target price Rs 348: Edelweiss

Edelweiss has buy call on Bandhan Bank with a target price of Rs 348. The current market price of Bandhan Bank Ltd. is Rs 325.7. Time period given by analyst is Intra Day when Bandhan Bank Ltd. price can reach defined target.

Bandhan Bank Ltd., incorporated in the year 2014, is a banking company (having a market cap of Rs 52565.95 Crore).

Bandhan Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 4120.95 Crore, up 12.21 % from last quarter Total Income of Rs 3672.51 Crore and up 6.73 % from last year same quarter Total Income of Rs 3861.12 Crore. The bank reported net profit after tax of Rs 858.97 Crore in latest quarter.

Investment Rationale
Triple Top swing breakout with by a trendline breakout which left short positions trapped

Promoter/FII Holdings
Promoters held 39.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 34.6 per cent, DIIs 1.93 per cent.