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Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI
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Buy RBL Bank; target of Rs 270: Dolat Capital Market

Dolat Capital Market is bullish on RBL Bank has recommended buy rating on the stock with a target price of Rs 270 in its research report dated May 05, 2021.

June 10, 2021 / 10:58 AM IST
 
 
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Dolat Capital Market's research report on RBL Bank


RBL’s Q3 earnings were impacted by high provisions led by elevated write-offs. Other income benefitted from healthy recoveries from written-off accounts, aiding core PPoP metrics which stood at 3.3%. NIM were stable QoQ at 4.2% after the impact of high interest reversal and compound interest waiver.


Outlook


We value the bank at 1.1x FY23E ABV, maintaining our BUY rating with an TP of Rs270. Despite near term challenges on asset quality front, we derive comfort from the bank’s improving growth prospects and superior digital capabilities in mid-sized banking space. Valuations remain undemanding, with the stock trading at 0.7x FY23E ABV.


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Broker Research
first published: May 25, 2021 02:21 pm
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