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    Add Bandhan Bank, target price Rs 255: HDFC Securities

    Synopsis

    Bandhan Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 39698.96 Crore).

    Bandhan BankAgencies
    While the management seemed confident of the ongoing borrower behaviour corrections reflecting in the gradual abating of stress in its core EEB portfolio, the brokerage is cautious about any near-term outcomes from the bank’s hard pivot ahead.
    HDFC Securities has add call on Bandhan Bank with a target price of Rs 255. The current market price of Bandhan Bank is Rs 246.8.

    Bandhan Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 39698.96 Crore).

    Bandhan Bank 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 31-12-2022, the company has reported a Standalone Total Income of Rs 4840.94 Crore, up 13.91 % from last quarter Total Income of Rs 4249.87 Crore and up 17.47 % from last year same quarter Total Income of Rs 4120.95 Crore. The bank has reported net profit after tax of Rs 290.57 Crore in latest quarter.

    Investment Rationale
    While the management seemed confident of the ongoing borrower behaviour corrections reflecting in the gradual abating of stress in its core EEB portfolio, the brokerage is cautious about any near-term outcomes from the bank’s hard pivot ahead.

    Promoter/FII Holdings
    Promoters held 39.99 per cent stake in the company as of 31-Dec-2022, while FIIs owned 28.34 per cent, DIIs 12.46 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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