Buy DCB Bank, target price Rs 113: IIFL

IIFL has buy call on DCB Bank with a target price of Rs 113.. The current market price of DCB Bank Ltd. is Rs 107. Time period given by analyst is Intra Day when DCB Bank Ltd. price can reach defined target.

DCB Bank Ltd., incorporated in the year 1995, is a banking company (having a market cap of Rs 3324.86 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 971.16 Crore, down -5.15 % from last quarter Total Income of Rs 1023.86 Crore and down -4.02 % from last year same quarter Total Income of Rs 1011.79 Crore. The bank reported net profit after tax of Rs 77.91 Crore in latest quarter.

Investment Rationale
Stock has given a double bottom breakout on the hourly chart with an uptick in the volume

Promoter/FII Holdings
Promoters held 14.9 per cent stake in the company as of March 31, 2021, while FIIs held 13 per cent, DIIs 40.5 per cent and public and others 31.5 per cent.