JM Financial has issued a “buy” call on Bandhan Bank Ltd., setting a target price of Rs 320. Currently, Bandhan Bank Ltd. is trading at Rs 252.15 in the market.
Bandhan Bank Ltd., established in the year 2014, is a banking company with a market capitalization of Rs 40,424.44 Crore.
Key Products/Revenue Segments for Bandhan Bank Ltd. include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds, and Interest, for the fiscal year ending on March 31, 2022.
In terms of financials, for the quarter ending on June 30, 2023, the company reported a standalone total income of Rs 4,908.03 Crore. This represents a slight increase of 0.22% from the total income of Rs 4,897.39 Crore in the previous quarter and a substantial increase of 11.93% from the total income of Rs 4,385.05 Crore in the same quarter of the previous year. The bank reported a net profit after tax of Rs 721.05 Crore in the latest quarter.
As of June 30, 2023, the promoters held a 39.99% stake in the company, while foreign institutional investors (FIIs) owned 33.53%, and domestic institutional investors (DIIs) held 12.4%.
Investors may consider this “buy” call from JM Financial when evaluating their investment decisions. The target price of Rs 320 suggests potential growth for Bandhan Bank in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.
