AgenciesShares of rallied as much as 5 per cent in Tuesday’s trade after the bank reported a 15 per cent year-on-year (YoY) and 4 per cent quarter-on-quarter (QoQ) growth in deposits.
The bank's net advances grew 18 per cent to Rs 2,59,647 crore in the September 2022 quarter from Rs 2,20,808 crore in the same quarter of the previous year, according to a BSE filing.
The bank's CASA ratio also grew 42 per cent in the second quarter of the financial year 2022.
Retail deposits and deposits from small business customers worth Rs 1,29,895 crores were reported as of September 30, 2022, as compared to Rs 1,24,102 crore in June 30, 2022, the bank said in a BSE filing.
At 12:30 pm, the stock was trading 5 per cent higher at Rs 1,210 over its last day’s closing price of Rs 1,156 a piece. The stock has risen nearly 23 per cent in the past six months, while it has surged about 33 per cent year-to-date.
As per Trendlyne data, the highest target for the stock goes up to Rs 1,604, while the average estimate of Rs 1,284 shows an upside of 6 per cent from the current prices.
Out of the 40 analysts covering the stock, 29 have a strong buy rating while seven have a buy rating and other four have a hold rating.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The bank's net advances grew 18 per cent to Rs 2,59,647 crore in the September 2022 quarter from Rs 2,20,808 crore in the same quarter of the previous year, according to a BSE filing.
The bank's CASA ratio also grew 42 per cent in the second quarter of the financial year 2022.
Retail deposits and deposits from small business customers worth Rs 1,29,895 crores were reported as of September 30, 2022, as compared to Rs 1,24,102 crore in June 30, 2022, the bank said in a BSE filing.
At 12:30 pm, the stock was trading 5 per cent higher at Rs 1,210 over its last day’s closing price of Rs 1,156 a piece. The stock has risen nearly 23 per cent in the past six months, while it has surged about 33 per cent year-to-date.
As per Trendlyne data, the highest target for the stock goes up to Rs 1,604, while the average estimate of Rs 1,284 shows an upside of 6 per cent from the current prices.
Out of the 40 analysts covering the stock, 29 have a strong buy rating while seven have a buy rating and other four have a hold rating.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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