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Last Updated : Apr 18, 2018 04:02 PM IST | Source: Moneycontrol.com

Hold DCB Bank; target of Rs 227: Arihant Capital

Arihant Capital recommended hold rating on DCB Bank with a target price of Rs 227 in its research report dated April 17, 2018.

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Arihant Capital's research report on DCB Bank


DCB Bank Ltd. reported strong growth this quarter. Operating Profit came in at Rs. 141.6 Cr. for Q4FY18 as against Rs. 115.4 Cr. in Q4 FY17 registering robust growth of 23%. Net profit increased to Rs 64.21 Cr up by 21% YoY and 13% sequentially.

Outlook

We have pegged a multiple of 2.1(x) to FY 20E ABV & arrived at a fair value of Rs.227 per share, that is an upside of 11%. At CMP of Rs 202 the stock is available at its FY 20E P/ABV of 1.8(x). We have “HOLD” rating on the stock.

For all recommendations report, click here


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First Published on Apr 18, 2018 04:02 pm
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