Motilal Oswal has issued a buy recommendation for Au Small Finance Bank, setting a target price of Rs 735. Currently, the market price of Au Small Finance Bank stands at Rs 645.25.
Au Small Finance Bank, established in 1996, operates as a banking entity with a market capitalization of Rs 47,647.14 crore.
Key revenue sources for Au Small Finance Bank include interest and discounts on advances, income from investments, and interest earned on balances with RBI and other inter-bank funds.
Financial Performance
For the quarter ended March 31, 2024, Au Small Finance Bank reported a standalone total income of Rs 3,385.12 crore, marking a 6.27% increase from the previous quarter and a 29.80% increase from the same quarter last year. The bank achieved a net profit after tax of Rs 370.74 crore in the latest quarter.
Ownership Structure
As of March 31, 2024, promoters hold a 25.45% stake in Au Small Finance Bank, while FIIs own 39.37% and DIIs hold 22.74%.
Motilal Oswal’s bullish outlook underscores the bank’s strong financial performance and growth potential in the financial sector.
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