ICICI Direct has given Hold recommendation for Bandhan Bank with a target price of Rs. 300 in its research report issued on Jan 24, 2022

ICICI Direct’s research report on Bandhan Bank

Bandhan Bank was incorporated in 2015 as RBI granted a universal banking license. The bank has a strong presence in eastern and northeastern India with MFI loans being its forte. Total 65% of loans are from emerging enterprise business (EEB) • Also, 1176 branches in 34 states, UTs and total customer base of 2.5 crore.


We retain our HOLD rating on the stock. We value Bandhan Bank at ~2.2x FY24E ABV and assign target price of Rs 300 per share.

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At 17:30 Bandhan Bank was quoting at Rs 316.85, down Rs 5.50, or 1.71 percent.

It has touched an intraday high of Rs 327.35 and an intraday low of Rs 313.85.

It was trading with volumes of 429,610 shares, compared to its thirty day average of 489,603 shares, a decrease of -12.25 percent.

In the previous trading session, the share closed down 0.56 percent or Rs 1.80 at Rs 322.35.

The share touched its 52-week high Rs 371.15 and 52-week low Rs 229.65 on 24 March, 2021 and 27 December, 2021, respectively.

Currently, it is trading 14.63 percent below its 52-week high and 37.97 percent above its 52-week low.

Market capitalisation stands at Rs 51,036.48 crore.

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