Mehta Equities recommended accumulate rating on RBL Bank with a target price of Rs 698 in its research report dated September 18, 2018.
Mehta Equities' report on RBL Bank
RBL Bank Ltd (RBL) is one of India’s fastest growing private sector banks with an expanding presence across the country. The Bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agri Business Banking, Development Banking and Financial Inclusion, Treasury & Financial Markets Operations. In the past five years, the bank has focused on building a comprehensive product suite, improving risk management, upgrading technology by implementing a new-age core banking system platform and expanding its distribution network. It currently services over 4.90 mn customers through a network of 266 Branches, 199 Banking Outlets and 369 ATMs spread across India.
On valuation parse the stock is valued at 2.9x its FY2020E BV of Rs200; we feel it quite attractive given the growth prospects of the bank and hence we recommend investors to ACCUMULATE (Rs 540 -560 Levels) on the stock with a target price of Rs 698.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.