ICICI Direct has given Hold recommendation for DCB Bank with a target price of Rs. 100 in its research report issued on Aug 09, 2021

ICICI Direct’s research report on DCB Bank

DCB Bank is a new generation private sector bank offering a comprehensive range of financial products and has a niche in mortgage lending.Mortgage forms 43% of total loans while SME contributes 10% The bank has 354 branches, 402 ATMs across 19 states, three UTs in India

Outlook

We downgrade our rating from BUY to HOLD on the stock We value DCB Bank at ~0.8x FY23E ABV and revise our target price from Rs 110 to Rs 100 per share.

 

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