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    Add Au Small Finance Bank, target price Rs 1250: ICICI Securities

    Synopsis

    Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 36743.48 Crore).

    au
    Promoters held 28.4 per cent stake in the company as of June 30, 2021, while FIIs held 37.3 per cent, DIIs 16 per cent and public and others 18.3 per cent.
    ICICI Securities has add call on Au Small Finance Bank with a target price of Rs 1250. The current market price of Au Small Finance Bank is Rs 1178.35. Time period given by analyst is one year when Au Small Finance Bank Ltd. price can reach defined target.

    Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 36743.48 Crore).

    Financials
    For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 1569.01 Crore, down -18.47 % from last quarter Total Income of Rs 1924.53 Crore and up 14.81 % from last year same quarter Total Income of Rs 1366.60 Crore. The bank reported net profit after tax of Rs 168.98 Crore in latest quarter.

    Investment Rationale
    Journey to become a pan-India retail bank remained on track with AU entering five new states and addition of >5,000 new members to further strengthen and fortify its workforce. It made significant strides towards becoming a tech-led bank (digital opening of >90% of accounts, paperless two-wheeler loans, and launch of AU 0101 super app). The brokerage maintains ADD with a revised target price of Rs1,250 (earlier Rs1,140).

    Promoter/FII Holdings
    Promoters held 28.4 per cent stake in the company as of June 30, 2021, while FIIs held 37.3 per cent, DIIs 16 per cent and public and others 18.3 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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