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
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.
Maintain BUY with a target price of Rs 377.
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.