ICICI Direct has given Buy recommendation for CSB Bank recommended buy rating on the stock with a target price of Rs 320 in its research rep with a target price of Rs. 320 in its research report issued on Jan 24, 2022

ICICI Direct’s research report on CSB Bank

CSB Bank is a south based private sector bank with Kerala contributing ~50% of the total business. Changed strategy in various aspects of lending has led to transformation and improved performance in the past few years. Gold, SME key lending segments comprising 37%, 13%, respectively, of book • Liability franchise is healthy with loyal customer base of ~19 lakh.

Outlook

We retain our BUY rating on the stock. We value CSB Bank at ~1.7x FY24E ABV and keep unchanged our target price at Rs 320.

More Info on Trent

At 17:30 CSB Bank was quoting at Rs 239.10, down Rs 4.55, or 1.87 percent.

It has touched an intraday high of Rs 245.50 and an intraday low of Rs 235.00.

It was trading with volumes of 730,093 shares, compared to its thirty day average of 44,079 shares, an increase of 1,556.35 percent.

In the previous trading session, the share closed down 0.39 percent or Rs 0.95 at Rs 243.65.

The share touched its 52-week high Rs 372.95 and 52-week low Rs 215.05 on 05 July, 2021 and 28 January, 2021, respectively.

Currently, it is trading 35.89 percent below its 52-week high and 11.18 percent above its 52-week low.

Market capitalisation stands at Rs 4,148.05 crore.

Leave a Reply

Your email address will not be published.