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Budget 2021

Associate Partners:

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Buy RBL Bank: target of Rs 295: Sharekhan

Sharekhan is bullish on RBL Bank has recommended buy rating on the stock with a target price of Rs 295 in its research report dated December 17, 2020.

December 18, 2020 / 01:47 PM IST
 
 
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Sharekhan's research report on RBL Bank


We interacted with RBL Bank’s management, which indicated that while the bank was still cautious on credit quality and growth outlook, it has steady fundamentals by healthy provisions cover and adequate capital buffer, which provides it cushion in the medium term. The bank expects slow traction on business loans, but traction on retail loans is better; falling cost of funds is likely to help maintain NIMs at present levels. RBL Bank currently trades at 1.2x/1.1x its FY2022E/FY2023E book value per share, which is reasonable. We have fine-tuned our estimates and have revised our target multiples.



Outlook


We recommend a Buy rating on the stock with a PT of Rs. 295.


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.

Broker Research
first published: Dec 18, 2020 01:47 pm

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