After 22% YTD gains, this bank stock can offer up to 15% further returns
On the lender, the brokerage maintained that a recent decline in yields is expected to lead to a reversal in treasury losses and could act as a near term catalyst. Thus, we maintain our BUY rating on the stock and revise our target price to Rs 650, valuing core bank at 1.3x FY24 ABV and assigning Rs 192 to the subsidiaries.
