Aditya Birla Capital, Emergence of a behemoth Call & Research Report by Emkay Global Sector: Finance – Investment CMP Rs. 155, Target Rs. 200 (29% upside potential) Target Period: 12 Months We initiate coverage on Aditya Birla Capital (ABCAP) with a BUY recommendation and Mar-24E TP of Rs200/share (+29% upside), based on SOTP-based valuation methodology. […]
Read more..Indian Bank : Buy, 63 % Upside Call & Research Report by Emkay Global Research Report Date: 20 July 2021 CMP Rs. 138, Target Rs. 225 Target Period : Not given ■ Indian Bank has benefited the most from the merger with Allahabad Bank(CASA@41%) and has largely completed the integration process. It is now gearing up […]
Read more..Federal Bank : Buy , 21 % Upside Call & Research Report by Emkay Research Report Date: 17 May 2021 CMP Rs. 82 Target price Rs. 100 Federal Bank reported a strong beat on PAT at Rs4.8bn (est. Rs3.2bn), mainly driven by lower provisions. Stable GNPA at 3.4%, lower restructured pool at 1%, stable […]
Read more..Research Report by Emkay Global Financial Services Report Date : 25 August 20 Punjab National Bank : Sell CMP: Rs35 | Target Price: Rs29 ■ PNB declared merged Q1 financials (PNB+ Oriental+ United) with a PAT of Rs3bn, aided by high treasury gains and contained opex/provisions. Total Covid-19 provisions remain low at Rs10bn (16bps of loans), while PNB […]
Read more..Research Report by Emkay Global Financial Services Report Date : 25 August 20 Max Financial BUY ,CMP: Rs 549 Target Price: Rs660 ¦ Change in ownership by Axis in Max Life: Axis Bank has proposed to acquire a 17% stake in Max Life from MFS, resulting in total ownership of 18%, according to a regulatory […]
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