Domestic brokerage Nirmal Bang sees an overhang in Bandhan Bank’s stock in the near term after the retirement announced by its Founder MD & CEO, Chandra Shekhar Ghosh.
COMMERCIAL BREAKSCROLL TO CONTINUE READINGAs per the report with the existing leadership being fairly new to the bank and current uncertainty over succession plans, the stock will see an overhang in the near term until clarity emerges on this issue.
With an ‘accumulate’ rating the brokerage has given a target price of Rs 194 apiece which implies a 6.2 per cent upside from Wednesday’s closing price of Rs 182.65 apiece.
Analysts at Nirmal Bang believe that valuations are inexpensive at 1.3x FY25E P/ABV (x) and 1.1x…
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