29-Oct-2026 07:44:57

JEFFERIES ON BANDHAN BANK ; BUY | TP ₹200 (EARLIER ₹240)

• Jefferies maintains Buy rating on Bandhan Bank but cuts target price to ₹200 from ₹240. • Q2 Performance: Net profit UP 456% YoY; net loans UP 15% YoY. • NII Growth: Net Interest Income UP 14% YoY. • Deposit Growth: Deposits UP 9% YoY, lagging loan growth. • Key Risks: Higher credit costs and regulatory changes pose risks to profitability. • Earnings Outlook: Jefferies cuts FY28–29 earnings estimates by 3–4%. • Valuations: Attractive valuations expected to limit downside. • Impact: Mixed 🟡

BANDHAN BANK LIMITED

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