Small cap private sector lenders have become multibaggers, surging over 130% in the last six months.
According to Trendlyne data, the bank’s highest target price has increased to Rs 17 and the average target price estimate is Rs 13.3, down 28% from the current market price.
The consensus recommendation from the three analysts for the stock is ‘buy’. Of her three analysts covering the stock, two have a strong ‘buy’ rating and one has a ‘hold’ rating.
The bank’s board of directors will also meet on Tuesday, January 24, 2023 to review, approve and record financial results for the quarter and nine months ended December 31, 2022, the bank said. stated in the BSE. filing,
Securities firm Jefferies is India’s
Bank growth is reasonably priced, suggesting it will remain positive for the sector. “In 2022, Nifty bank rose 21%, outperforming the regional and Indian markets. Valuations are reasonable despite the revaluation and favorable earnings outlook for 2023. Performance gap between private banks and PSU banks is shrinking, so the range of valuations is also tight.”
Besides South Indian Bank, 6 banks including , , , , and Punjab will convert to multibaggers in FY2023. ), PVR (14,000 shares) and (4,85,000 shares).
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