Buy Equitas Small Finance Bank, target price Rs 62: Yes Securities

Yes Securities has buy call on Equitas Small Finance Bank with a target price of Rs 62. The current market price of Equitas Small Finance Bank is Rs 53.95. Time period given by analyst is Intra Day when Equitas Small Finance Bank Ltd. price can reach defined target.

Equitas Small Finance Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 6763.77 Crore).

Equitas Small Finance Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment 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 1035.01 Crore, up 4.40 % from last quarter Total Income of Rs 991.40 Crore and up 3.14 % from last year same quarter Total Income of Rs 1003.54 Crore. The bank reported net profit after tax of Rs 108.10 Crore in latest quarter.

Investment Rationale
With the post-multi-month downtrend, the stock rebounded swiftly in the recent past. Recent consolidation above levels of 51 seems to be in a mature phase. Hence sustenance could lift the stock above 60 zones.

Promoter/FII Holdings
Promoters held 81.36 per cent stake in the company as of 31-Dec-2021, while FIIs owned 2.1 per cent, DIIs 11.41 per cent.