Hold DCB Bank; target of Rs 200: ICICI Direct
ICICI Direct recommended hold rating on DCB Bank with a target price of Rs 200 in its research report dated June 13, 2017.
ICICI Direct's research report on DCB Bank
Mid-sized private sector bank stocks saw a run up in the recent past in anticipation of a better performance in terms of growth and asset quality. The stock price of DCB Bank has seen highest run up among banking peers to the tune of 84% YTD from January 1, 2017 till date.
Therefore, we are not negative on the overall asset quality and expect it to remain manageable across business segments. Going ahead, we expect the GNPA ratio at 1.7% while NNPA ratio is estimated at 0.8% by FY19E. We maintain our HOLD rating on the stock.
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