Buy Bandhan Bank; target of Rs 406: HDFC Securities
HDFC Securities is bullish on Bandhan Bank has recommended buy rating on the stock with a target price of Rs 406 in its research report dated January 22, 2021.
January 28, 2021 / 03:50 PM IST
HDFC Securities' research report on Bandhan Bank
BANDHAN’s 3QFY21E PAT disappointed on account of higher-thananticipated provisions as it sought to insulate the balance sheet from stress emanating from its Assam portfolio. We will continue to closely track progress on this front, and we have reduced our earnings estimates to account for this.
Low-cost deposit traction remains impressive in its granularity- this along with BANDHAN’s strong RoAE potential underpin our stance. Maintain BUY with a target price of Rs 406.
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