January 19, 2017 / 16:41 IST
Arihant Capital's research report on DCB Bank DCB Bank Ltd. reported strong growth this quarter. Operating Profit came in at Rs. 109 Cr. for Q3 FY 17 as against Rs. 84 Cr. in Q3 FY 16 registering robust growth of 30% and growth of 8% sequentially. Net profit increased to Rs 51.3 crs, up 25% YoY and growth of 6% sequentially.
Outlook
We have pegged a multiple of 1.75(x) to FY 18E ABV & arrived at a fair value of Rs 129 per share. At CMP of Rs 121 the stock is available at its FY 18E P/ABV of 1.6(x). We have “HOLD” rating on the stock.
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