Brokerages suggest buying this bank stock for up to 60% returns, check details here
The main indexes, the Sensex and Nifty, recovered from intraday lows, boosted by strong advances in the auto and pharmaceutical sectors.
Stock markets recovered on Monday, June 24, finishing in the green following a flat and negative start to the trading day.
BSE Sensex and NSE Nifty 50 today
The BSE Sensex rose 131.18 points to 77,341.08. Meanwhile, the wider NSE Nifty 50 rose 36.75 points to 23,537.85.
Centrum Broking's call on Ujjivan SFB
Despite that, brokerage Centrum Broking has maintained its 'buy' call on this small finance bank (SFB) stock for the long-term.
Bank stock to buy
Centrum has recommended buying Ujjivan Small Finance Bank for the long-term.
Centrum Broking's target for Ujjivan SFB
Brokerage has reduced the target for Ujjivan from Rs 74 to Rs 72. On Monday, the stock closed at Rs 45.9 each, down 5.19 per cent. This implies an upside of around 60 per cent from its current price.
Antique Stock Broking's target for Ujjivan SFB
The brokerage has reduced the target from Rs 70 to Rs 65 each.
HSBC's views on Ujjivan SFB
The brokerage HSBC has also decreased the target to Rs 53 from the previous Rs 58 per share.
What HSBC says
The brokerage HSBC says, 70 per cent of the bank's loan book is from the MFI segment. The bank's earnings estimates have been reduced. There will be an impact of 2-4 per cent on book value. There will be an impact of 7 to 11 per cent on earnings.
The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.