Buy DCB Bank, target price Rs 117: Axis Securities

Axis Securities has buy call on DCB Bank with a target price of Rs 117. The current market price of DCB Bank Ltd. is Rs 94.9. Time period given by analyst is 4 weeks when DCB Bank Ltd. price can reach defined target.

DCB Bank Ltd., incorporated in the year 1995, is a banking company (having a market cap of Rs 2957.91 Crore).

DCB Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 1041.69 Crore, up .67 % from last quarter Total Income of Rs 1034.71 Crore and up 7.87 % from last year same quarter Total Income of Rs 965.67 Crore. The bank reported net profit after tax of Rs 97.15 Crore in latest quarter.


Investment Rationale
The daily and weekly strength indicator RSI continue to remain bullish and quoting above 50 mark which signals sustained and rising strength