Bank Stock Witnesses 14% Correction In 6-Days, Emkay Global Says Buy, Target Price Rs 72

Leading bank stock, Equitas Small Finance Bank witnessed price correction of 14% in a span of just 6-days. The stock was priced Rs 74.95 apiece and today's price is Rs 64.56 apiece on BSE. Meanwhile, brokerage firm Emkay Global has recommended investors to buy Equitas Small Finance Bank with a target price of Rs 72 apiece and potential return of 13%. Check details below:

Equitas Small Finance Bank Stock Performance & Return: The last trading price of Equitas Small Finance Bank is Rs 64.56 apiece. Its 52-week high is Rs 77.87 apiece and 52-week low is Rs 37.50 apiece, respectively. Its market capitalisation is Rs 7,168.09 crore.

The stock fell more than 11% in last 1-week, gave a return of over 9% in last 1-month, 6% return in last 3-months, and 22% in last 1-year when Sensex gained just 2.50%, thus outperforming the markets.

Equitas Small Finance Bank Valuation: According to Emkay Global, "Factoring-in the better growth/margins and lower LLP, we upgrade our earnings estimate for FY23/24/25 by 10%/3%/1%, respectively, leading to steady improvement in RoA/RoE to 1.7-2%/11-16% over FY23-25E. We retain BUY with revised TP of Rs72/share (up from Rs65 earlier), based on 1.5x Dec-24E ABV."

Equitas Small Finance Bank About: Equitas Small Finance Bank Limited operates as a bank and came into existence in 1993. It provides savings accounts, fixed deposits, loans, debit and credit cards, investment, insurance, online services, and other related activities, among others.

Disclaimer: The stock has been picked from the brokerage report of Emkay Global Financial. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.