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Is the worst over for Bandhan Bank?

Neha Dave   •

Though Q3 earnings were muted, the same is set to improve in FY24; however, the stock may not see a big rally

Bandhan Bank | CMP: Rs 248.25 | The stock jumped over 4 percent after global research firms gave the 'buy' rating on the stock with up to 42 percent upside. The lender's non-performing assets improved. Gross non-performing assets (GNPAs) fell 26.23 percent to Rs 6,964.76 crore as against Rs 9,441.57 crore logged in the same quarter of the previous year. CLSA has a 'buy' call on the stock with target at Rs 320 per share. The brokerage firm is of the view that NII missed estimates and overall performance was muted while SMA book and un-provided stress were down.

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This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More