Equitas Bank Share Price: Strong Performance and Potential Growth
Equitas Small Finance Bank shares have shown a strong performance in recent times. The bank has allotted 20,72,276 equity shares to its employees under the Employees Stock Option Scheme, 2019. This move was informed to SEBI on Friday, showing the bank’s commitment to its employees.
Analysts at IIFL Securities have expressed bullish sentiments towards Equitas Small Finance Bank stock. They predict that the bank’s shares may touch Rs 100 in the near future, indicating potential growth and profitability. Currently, the shares closed at Rs 87.40 with a slight decline of 0.63 percent.
Target Price and Potential Return
Stock market experts have set a target price of Rs 109 for Equitas Small Finance Bank shares. This means that investing in the bank’s shares can potentially yield a 30 percent return. With the current price of Rs 87, this target price presents an attractive investment opportunity.
Recent Performance and Future Outlook
The stock has shown positive growth, rising by 4.23 percent from the previous week on Friday. However, it faced selling pressure, resulting in a decline from its price level of Rs 101.16 on July 27, 2023. Despite this setback, the stock is showing signs of growth again.
Impressive Financial Performance
Equitas Small Finance Bank posted a net profit of Rs 191.20 crore for the April-June 2023 quarter, marking a significant growth of 97.1 percent compared to the same quarter last year. The bank’s net profit for the financial year ended March 31, 2023, was Rs 573.59 crore, indicating a strong financial performance.
The bank also witnessed a substantial increase in revenue, collecting Rs 1,425.32 crore in the June quarter. This represents a growth of 32.9 percent compared to the corresponding quarter last year. For the financial year ended March 31, 2023, the bank collected revenue of Rs 4,831.46 crore.
Disclaimer
Investing in mutual funds and the stock market carries risks. It is essential to consult a financial advisor before making any investment decisions. AkhandIndia.com does not take responsibility for any financial losses incurred.
In conclusion, Equitas Small Finance Bank’s shares have shown promising performance and have the potential for further growth. Investors should carefully consider the market conditions and seek professional advice before making any investment decisions.
