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Buy DCB Bank; target of Rs 146: Anand Rathi

Anand Rathi is bullish on DCB Bank has recommended buy rating on the stock with a target price of Rs 146 in its research report dated January 28, 2023.

January 31, 2023 / 04:24 PM IST
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Anand Rathi's research report on DCB Bank

Higher opex counterbalanced DCB Bank’s strong NII growth, keeping the C/I ratio above 60%; benign credit cost, however, aided profitability, with the RoA coming near ~1%. Higher slippages kept asset quality under pressure. Key positives for the quarter were 1) collection efficiency improving across key segments, 2) strong recoveries/upgrades, 3) decline in stress across core segments (excl. Corp.) and 4) strong traction in disbursements across key segments. With credit growth expected to pick up and normalising credit costs, earnings would improve.


We retain our Buy rating, with a TP of Rs146, valuing the stock at 0.8x P/ABV on the FY25e book.

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DCB Bank - 30 -01-2023 - anand

Broker Research
first published: Jan 31, 2023 04:24 pm