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Add Au Small Finance Bank, target price Rs 1320: ICICI Securities

Sumary of Add Au Small Finance Bank, target price Rs 1320: ICICI Securities:

  • Au Small Finance Bank Ltd., incorporated in the year 1996, is a banking company (having a market cap of Rs 35886.15 Crore)…
  • Investment RationaleWith improving visibility on growth, capital infusion of Rs6.25bn and likely credit cost normalisation in FY22e (~40% coverage on proforma GNPL), the brokerage adjusts target multiple to ~5x FY23e (still ~35% lower than historical peak) and revises TP upwards to Rs1,320 (earlier Rs994)……

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