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The stock has gained momentum after a long time. The stock opened at Rs 175 against the closing price of Rs 168.21 on Monday. After this, the stock has crossed Rs 180. The stock has gained 9 percent.
Bandhan Bank has announced its quarterly results. Profit has increased on an annual basis. Compared to the July-September quarter of the financial year 2023-24, the July-September profit of the financial year 2024-25 has increased by 30% to Rs 937.4 crore. It was Rs 721.2 crore a year ago. NII i.e. interest income has increased by 20.7% to Rs 2,948.2 crore. It was Rs 2,443.4 crore a year ago.
NPAs have increased. Gross NPAs have increased from 4.23% to 4.68%. Net NPAs have increased from 1.15% to 1.29%.
Jefferies report has come on Bandhan Bank. The report has set a target of Rs 240 with a buy. Not only was the second quarter profit better than expected, but the quality of MFI loans was also good. The quality of MFI loans confirms our assessment that the company can perform better than its competitors in this MFI-cycle.
Macquarie-Outperform call on Bandhan Bank, target Rs 250 per share. Targets credit cost of 1.8-2% in FY25. There is no risk given the current value, growth and RoA-return on assets.
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