Expert tip: This stock set to give 32% return on your investment; should you buy?
The fundamentals of the company suggests that the Equitas Holdings stock has around 32 per cent upside potential and in one year term, it is poised to show Rs 160 levels.
On account of Equitas SFB continually improving its pace and quality of execution of the transformation strategy, is likely to reach the targeted steady-state franchise profitability by 2022, market experts have expressed a bull run into the stock in coming one year. They say the stock can give around 32 per cent return in one year to the investors as its fundamentals are looking strong.
Speaking on the fundamentals of the stock Rajiv Mehta, Research Analyst at Yes Securities stated in company's research report, "In Q3 FY19, the bank reported acceleration of loan growth, improved contribution of deposits in borrowings, impressive cost management and neat asset quality. Asset growth continues to be driven by the key objectives of diversification and prudent risk selection. Deposits growth was predominantly driven by retail TDS, with steps being taken to catalyze its mobilization. Excluding PSLC related one-off expenditure, the opex trended flat. Notwithstanding some impact of the cyclone Gaja on MFI portfolio, overall collection trends for the bank were strong leading to a decline in credit cost."
See Zee Business video below:
— Swati Khandelwal (@SwatiKJain) February 5, 2019
On what he suggests to the market investors in regard to Equitas Holdings stock the Yes Securities report says, "The fundamentals of the company suggests that the Equitas Holdings stock has around 32 per cent upside potential. We recommed investors to buy the scrip for the target of Rs 160 per stock in one year perspective." Currently, the stock is hovering around Rs 120 per share.
Commenting upon the outlook of Equitas Holdings at Indian indices, Deepak Kumar, Research Analyst at Narnolia Securities told, "Market capital of the company is Rs 4,129 crore with free float of 74 per cent." He said that the stock looks positive from its fundamental credentials and can show the Rs 151 per share in short-term perspective means in around one month.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.