Moneycontrol PRO
Upcoming Event:Join us for New HorAIzon from Oct 6-7, 2pm and be a part of exciting conversations on tech & innovation

Hold Bandhan Bank; target of Rs 400: ICICI Direct

ICICI Direct recommended hold rating on Bandhan Bank with a target price of Rs 400 in its research report dated July 16, 2020.

July 20, 2020 / 01:13 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Bandhan Bank

Bandhan Bank reported a reasonable performance. Moratorium improved from 71% in April to 24% as of July 3, 2020 with micro finance portfolio down from 100% in April 2020 to 30%. Mortgage book witnessed marginal increase in moratorium at 15%; up 200 bps. MSME portfolio saw an improvement at ~18% of advances under moratorium (35% in April 2020) and NBFC-MFI revived to zero moratorium vs. ~59% in Q4FY20.


Accordingly, we revise our target price to Rs 400 per share, valuing the stock at ~15.8x FY22E EPS (3.1x FY22E BV). With the recent upswing in stock price, we downgrade our rating to HOLD.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jul 20, 2020 01:13 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark