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Last Updated : Jan 17, 2019 05:24 PM IST | Source: Moneycontrol.com

Accumulate DCB bank; target of Rs 208: Arihant Capital

Arihant Capital recommended accumulate rating on DCB bank with a target price of Rs 208 in its research report dated January 17, 2019.

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Arihant Capital's research report on DCB bank


DCB bank reported healthy operating performance during the quarter, profit jumped by 51% aided by high other income, however there is some pressure on its assets quality. Net profit for the quarter stood at Rs. 86 cr vs 57 cr YoY. Other income for the quarter stood at Rs. 94 cr vs 75 cr registering a growth of 26% YoY. NII for the quarter grew by 17% at Rs. 294 cr vs 250 cr YoY.


Outlook


We have valued the stock at 1.9x to its FY20E ABV and arrived at a fair value of Rs 208 per share giving potential upside of 15%. We have an “ACCUMULATE” rating on the stock.


For all recommendations report, click here


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First Published on Jan 17, 2019 05:24 pm
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