AU Small Finance Bank Shares Jump 6%, Brokerages Expect 28% Upside. Here\’s Why

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AU Small Finance Bank share price jumped over 6 percent in the morning session on January 5 with the stock gaining over 15 percent in the last five days.

The stock was trading at Rs 1,169.60, up Rs 74.95, or 6.85 percent. It has touched an intraday high of Rs 1,179.50 and an intraday low of Rs 1,120. The scrip was trading with volumes of 57,080 shares, compared to its five-day average of 40,139 shares, an increase of 42.21 percent.

Global research and broking firm Morgan Stanley has an ‘overweight’ call on the stock with a target at Rs 1,500 per share, an upside of over 28 percent from the current level. The research firm is of the view that the third quarter AUM growth was strong helped by a 36 percent on-year growth in disbursements, adding that collection efficiency remains strong with no restructuring during the period.

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Domestic research and broking firm Motilal Oswal has retained a ‘buy’ call on the stock with a target of Rs 1,400 per share. According to the research firm, the bank posted a robust growth in advances, led by strong disbursements, due to an overall improvement in the business environment.

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Deposit growth too remains strong, led by a robust CASA growth, resulting in a further improvement in the CASA ratio. On the asset quality front, collection efficiency remains strong (in excess of 100 percent), which is likely to result in an improvement in asset quality ratios, providing further comfort.

“We maintain our ‘buy’ rating with a target of Rs 1,400 per share (4.6x Sep’23E BV),” it added.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.

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