(Image: istock/ET Now News)Bandhan Bank Share Price Target 2024 : Shares of private sector lender Bandhan Bank settled in negative territory on Wednesday.
Axis Securities has maintained their estimates currently and said that they will revise them post the Q4FY24 results.
Bandhan Bank share price target 2024"We revise our rating from BUY to HOLD, lowering the valuation multiple from 1.5x Sep’25E ABV to 1.1x Sep’25E ABV.
We arrive at a target price of Rs 175/share, implying a downside of 5 percent from the CMP," said Axis Securities in their report.
Bandhan Bank Share Price HistoryBandhan Bank commands a market cap of Rs 29,424.36 crore on the BSE.
Authored by : ET Now Digital Updated Apr 10, 2024 | 09:05 PM IST Axis Securities has maintained their estimates on Bandhan Bank and said that they will revise them post the Q4FY24 results. (Image: istock/ET Now News)
Bandhan Bank Share Price Target 2024 : Shares of private sector lender Bandhan Bank settled in negative territory on Wednesday. The stock opened flat at Rs 182.70 on the BSE and moved southward to end Wednesday's session at Rs 182.65, marginally down 0.03 per cent from its previous close of Rs 182.70.
Brokerage firm Axis Securities has shared their report on the private sector bank. According to the Axis Securities report, Bandhan continues to grapple with asset quality concerns, especially in the EEB book, while most of its peers have shown remarkable improvement in asset quality.
"While the Q4FY24 provisional numbers indicate strong growth in terms of both advances and deposits, and collection efficiency remaining steady at 99 percent in both the EEB and non-EEB segments, the uncertainty around the management succession and the potential challenges in terms of the growth strategy for the bank will result in a further de-rating of the stock," said the brokerage report. Axis Securities has maintained their estimates currently and said that they will revise them post the Q4FY24 results.
Bandhan Bank share price target 2024
"We revise our rating from BUY to HOLD, lowering the valuation multiple from 1.5x Sep’25E ABV to 1.1x Sep’25E ABV. We arrive at a target price of Rs 175/share, implying a downside of 5 percent from the CMP," said Axis Securities in their report.
Bandhan Bank Share Price History
Bandhan Bank commands a market cap of Rs 29,424.36 crore on the BSE. The Bank is constituted of S&P BSE 200 index. According to BSE analytics, the bank's stock has dropped 4.12 per cent in the last one week, 6.36 per cent in the last one month, 20.95 per cent in the last three months, 27.51 per cent in the last six months, and 13 per cent in the last one year.
Shares of Bandhan Bank were quoted at a 52-week high of Rs 272 on the BSE on June 1, 2023, while they were seen at a 52-week low of Rs 173.45 on March 14, 2024.
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