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Weekly Tactical Pick | CSB Bank — Metamorphosis key to long-term valuation

CSB Bank aims to transform itself into a new-age lender with wider presence

July 31, 2020 / 09:20 AM IST
Weekly Tactical Pick | CSB Bank — Metamorphosis key to long-term valuation

CSB Bank has said it has increased its share of gold loans to 40 percent in the March quarter and wants to grow it big going ahead as well.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Adequate capital, relatively better asset quality, high provisioning and good growth in gold loans make CSB Bank (CMP: Rs 190, Market Cap: Rs 3,282 crore) — a small private sector lender that got listed in December 2019 — worthy of our weekly tactical pick in the current challenging times. Ever since we published a note on the bank’s fourth-quarter FY20 earnings on June 16, its stock price has seen a sharp rally of around 34 per cent. Over the past...

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