Bandhan Bank falls five-hitter once Macquarie raises concern over valuation

Shares of Bandhan Bank fell virtually five p.c in early trade on Oct seventeen once foreign brokerage Macquarie aforementioned it's a high conviction non-consensus 'underperform' read on the bank. Get Nifty Options Tips by just clicking the link.

The brokerage aforementioned at the stock's target worth of Rs 425 is regarding thirty p.c less than the present value.

The brokerage aforementioned it remains uncomfortable with Bandhan Bank at current levels. "At 5.1 times forward PBV (price to book value), there's no margin of safety," aforementioned Macquarie, adding that the fabric bump-up in price tag sizes in some geographies is a district of concern.

The review has come back at the time once the stock was enclosed within the MSCI index beneath the largecap phase on Oct sixteen.

Meanwhile, the bank has aforementioned it'll announce its Gregorian calendar month quarter numbers on day.

Shares of Bandhan Bank listed a pair of.06 p.c lower at Rs 571.75 on bovine spongiform encephalitis around 1005 hours.

To avail Free Trading Tips go to our official site.