Banking Stock Sets Record Date For Dividend, Gets Buy With Target Price Rs 100

Board of directors of Equitas Small Finance Bank has fixed July 28, 2023 as the record date for dividend. Last trading price of Equitas Small Finance share is Rs 87.22 per share with intraday fall of 0.80% on BSE. Equitas Small Finance stock delivered 46% return YTD and 126% return in last 1-year. Check details below:

Equitas Small Finance Bank Sets Record Date For Dividend: As per the BSE filing of Equitas Small Finance, "Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 fixed Friday, July 28, 2023 as the Book closure and Record date for payment of Dividend."

Earlier, Board of Directors of the Bank have inter-alia recommended Dividend of Re.1.00/- (One Rupee Only) per equity share of Rs.10/- each (10%) for the financial year ended 31st March, 2023, subject to the approval of the Shareholders at the ensuing Annual General Meeting (AGM) of the Bank.

Equitas Small Finance Stock Performance & Return: Last trading price is Rs 87.22 per share. Its 52-week high price is Rs 90.10 per share and 52-week low price is Rs 37.50 per share, respectively. Its market capitalisation is Rs 9,694.91 crore. The stock offered return of 47% in last 6-months and 45% gain in last 2-years.

Valuation: According to ICICI Securities' report dated May 9, 2023, "Maintain BUY with a revised target price of Rs100 (earlier Rs70), as we now value the stock at 1.75x Sep'24E P/BV (earlier Sep'23)."

Equitas Small Finance About: Equitas Small Finance Bank Limited is a Small Finance Bank (SFB), licensed by Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 to carry on the business of Small Finance Bank. The Bank commenced the business of SFB on September 5, 2016. It is the first Private Sector Bank from Tamil Nadu to commence operations post Indian Independence, according to its official website.

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