Brokerages are Bullish on Bandhan Bank With 49% Upside

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Brokerages are Bullish on Bandhan Bank With 49% Upside

By Aditya Raghunath

Investing.com -- For the quarter ended June 2021, Bandhan Bank Ltd (NS: BANH ) reported a total income of Rs 3,943.37 crore, up 15.82% from the corresponding quarter last year when it reported a total income of Rs 3,404.84 crore. It reported a net profit of Rs 373.08 crore in the June 2021 quarter.

The stock closed at Rs 300.85 today. The stock has fallen 6.73% in the last one month but brokerages are bullish on the stock.

Motilal Oswal (NS: MOFS ) has a target of Rs 330 on the stock with a buy call. It said that Bandhan Bank reported higher-than-expected PAT despite higher provisions for slippages due to the second pandemic wave, and loan waivers. Its collection in the MFI (micro-finance) portfolio stood at 86% overall and 85% for West Bengal.

Goldman Sachs (NYSE: GS ) has a target of Rs 447 for the stock with a buy call. However, the brokerage firm removed the stock from its conviction list. It said that near-term macro uncertainty can impact short-term performance.

JP Morgan has a target of Rs 390 on the stock. It says that while asset quality shows an increase in stress, it expects it to bottom out by September.

Bernstein has a target of Rs 420 for the stock. It said that it is satisfied by the bank’s detailed strategy disclosures.

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  • PARIMAL NAIK @PARIMAL NAIK
    Net NPA decrease QOQ and individual will pay their dues slowly as they cannot afford legal action. So I am betting big on this stock.
    Like 0
  • Yash Gupta @Yash Gupta
    as we can see in balance sheet GNPA and NNPA seen growth 📈 thats shows highly risky i am thinking 330-360 is a good price to sustain as of nowin coming week we can see bit positive movement in this stock
    Like 3
  • Abhinandan Banerjee @Abhinandan Banerjee
    oh lovely
    Like 0

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