Bet is longer term as the Bank might hit 2% Roa on a Quarterly basis
Moreover, the Book value per share will go up as Equitas Hold co has 300 crores of cash. Upon merger, BV gets bumped up by 20%. Outstanding shares will also get cancelled in Sfb. Thereby, bumping up BVPS.
2% Roa, and 1.1x Pb FY24E. Metrics are up there, yet multiple is cheap due to uncertainty around the MD retiring and behaviour of restructured book, which has behaved well. This is why the opportunity exists…
Disc: playing sfb via hold co. Valuation comfort is there and finally the catalyst has entered into play i.e Liquidity…
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