te Bandhan Bank share closes deep in red after negative investor sentiment on Q2 results: Check brokerages' share price target | Zee Business

Bandhan Bank share closes deep in red after negative investor sentiment on Q2 results: Check brokerages' share price target

Bandhan bank share price: On NSE, Bandhan Bank share closed at Rs 239.40 per share which was 9.78 per cent lower 

Bandhan Bank share closes deep in red after negative investor sentiment on Q2 results: Check brokerages' share price target
Bandhan bank share price: Although Bandhan Bank made a profit after previously recording a loss still the results were not up to the expectations

Bandhan bank share price: Bandhan Bank stocks were trading in deep red as of 3:57 pm on Monday after the bank announced its Q2 results which were not up to investor’s expectation. 

On NSE, Bandhan Bank share closed at Rs 239.40 per share which was 9.78 per cent lower and on BSE, the stock was trading at Rs 238.65 apiece which was 10.01 per cent on the lower side. 

Bandhan Bank Q2 results had been announced on Friday. Although Bandhan Bank made a profit after previously recording a loss still the results were not up to the expectations. Bandhan Bank’s profit has declined QoQ from Rs 886 crore to Rs 210 crore. As per Zee Business the profit was expected at Rs 800 crore but the bank ended up making a profit of only Rs 210 crore.  

TRENDING NOW

Bandhan Bank Share Price Target by Brokerages:
CLSA has given an outperform rating but has reduced the target from Rs 325 to Rs 300

Jefferies has given a buy call and has reduced the target from Rs 400 to Rs 340

BoFA has given a buy call and maintained the target of Rs 355

Credit Suisse has given an outperform rating but has reduced the target from Rs 360 to Rs 330 

Nomura has given a buy call and has maintained the target at Rs 425 

Bandhan Bank Q2 results 
Bandhan Bank’s total customer base stood at Rs 2.77 crore as on September 30, 2022. Their loan book grew 18 per cent YoY to Rs. 95,835 crore. The bank recorded a total deposit of Rs. 99,365 crore. The Net Interest Income increased from Rs 1935 crore to Rs 2193 crore. 

On QoQ basis, the gross Non-Performing Assets (NPA) was down from 7.25 per cent to 7.19 percent. The Net NPA was down from 1.92 per cent to 1.86 per cent. Bandhan Bank's Net Interest Margin was down from 8 per cent to 7 per cent. Provisioning reduced from Rs 5613 crore to Rs 1280 crore YoY. 

Reported By: ZeeBiz WebTeam
Written By: Sirali Gupta
Edited By: Hemant Abhishek
Updated: Mon, Oct 31, 2022
07:45 pm
Mumbai, ZeeBiz WebDesk
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