DCB Bank Research Report By Hem Securities

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August 19, 2014 at 11:57 pm #863

Vidhi Khanna
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DCB has made a remarkable turnaround in a tough environment by focus on consolidation and steady improvement in most of the parameters. DCB is well-placed in terms of capital adequacy and asset quality, which are major concerns of the banking industry. We believe the bank is trading at an attractive valuation at 10.83x and 9.80x of FY15EPS of Rs.7.39 and FY16EPS of Rs.8.16. We initiate a ‘BUY’ on the stock with a target price of Rs.120 (appreciation of about 50%) with the medium to long term investment horizon.

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