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Buy Bandhan Bank; target of Rs 377: HDFC Securities

HDFC Securities is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 377 in its research report dated November 03, 2020.

November 09, 2020 / 04:21 PM IST
 
 
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HDFC Securities' research report on Bandhan Bank


BANDHAN’s earnings were ahead of estimates on account of lower-thanexpected provisions (a recurring theme across banks this quarter). The bank fared exceptionally in terms of collection efficiency and deposit traction. We have increased our earnings estimates as we build lower provisions (although they remain elevated, given the inherent risks associated with microfinance— refer to our recent report on the Indian Microfinance sector) and higher growth.


Outlook


Maintain BUY with a target price of Rs 377.


For all recommendations report, click here


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Broker Research
first published: Nov 9, 2020 04:21 pm

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