Bandhan Bank shares trade higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. 
Bandhan Bank shares trade higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. 
Shares of Bandhan Bank rose up to 9 per cent today in an otherwise weak market after brokerage CLSA upgraded the stock to 'buy' with a target price of Rs 320. The banking stock touched an intraday high of Rs 288.5, rising 8.95 per cent on the BSE. Bandhan Bank shares trade higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages. The large cap stock has lost 17.18 per cent in one year but gained 11.22 per cent since the beginning of this year.
A total of 11.20 lakh shares of the firm changed hands, amounting to a turnover of Rs 31.69 crore on the BSE. Market cap of the firm rose to Rs 45,511 crore on the BSE.
CLSA said the lender's tough 3-4 years are behind and it is better placed cyclically compared to peers. Recent performance indicates a turning point, with collections improving to 86 per cent for its microfinance portfolio in Q3, the brokerage said.
Latest guidelines are favourable with an increase in income limit and no interest rate cap, it added.
The Reserve Bank of India on Monday asked microfinance lenders to put in place a ceiling on pricing of loans and related fees.
Issuing 'Master Direction Reserve Bank of India (Regulatory Framework for Microfinance Loans) Directions, 2022', the RBI said all regulated entities (REs) should put in place a board-approved policy regarding pricing of microfinance loans, covering, a ceiling on the interest rate and all other charges applicable to microfinance loans.
Market falls after five sessions: Sensex tanks 709 points, Nifty closes below 16,700
Bandhan Bank reported a 35.7 per cent year-on-year rise in net profit to Rs 859 crore from Rs 632.6 crore in Q3 FY21. Net interest income (NII) rose 2.6 per cent to Rs 2,124.7 crore as against Rs 2,071.7 crore in the corresponding quarter of the previous year.
Non-interest income rose 26.7 per cent to Rs 712.3 crore for the quarter ended December against Rs 562.3 crore in the same period previous year.
Net interest margin (annualised) was at 7.8 per cent during December quarter as against 7.6 per cent in September quarter.
Meanwhile, Sensex crashed 979 points to 55,506 and Nifty lost 270 points to 16,600. Tata Steel, Kotak Bank, Tech Mahindra, Infosys and HCL Tech were the top Sensex losers, falling up to 4.80 per cent in the afternoon session.
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