CSB Bank share price today: 55 pct profit on the listing date! Target for a further 10% jump, say experts
CSB Bank share price today: On debut, share listed on the NSE at Rs 275 and soon shot up to Rs 306.80 — its intraday high — giving CSB Bank IPO investors around 55 per cent returns on their investment immediately.
CSB Bank share price today: On debut, share listed on the NSE at Rs 275 and soon shot up to Rs 306.80 — its intraday high — giving CSB Bank IPO investors around 55 per cent returns on their investment immediately. According to the stock market experts, CSB Bank share price target is still 10 per cent upside from current market price and those who have been allotted CSB Bank IPO should hold their position for around Rs 335 targets in near short-term. They have advised share market investors to either book profit on the CSB Bank share on listing date as they are already getting around 55 per cent returns in their investment, but for those who want to maximise the worth of their money can hold their position with trailing stop loss at Rs 280 levels for around 10 per cent upside target from current levels.
Speaking on the outlook of CSB Bank shares Sumeet Bagadia, Executive Director at Choice Broking said, "Those who have invested in the CSB Bank IPO with short-term time horizon can book profit at current market price as they are already getting around 55 per cent on their returns. However, for those who want to further hold the CSB shares should hold the CSB Bank stocks for further 10 per cent upside movement maintaining trailing stop loss at around Rs 280 per stock levels."
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Giving details about the driving force behind the strong fundamentals of the CSB Bank, Avinash Gorakshakar, Research Head at Joindre Capital Services said, "CSB Bank has the strong backing of the PE firm Fairfax. They are promoters of the CSB Bank and its strong backing is one of the major reasons for the strong CSB Bank share listing."
Gorakshakar went on to add that in 10-12 months CSB Bank's asset quality numbers are suggesting strong fundamentals for the Kerala-based bank and hence those stock market investors who got the CSB Bank IPO, he or she shouldn't exit from the CSB Bank shares in a hurry. They should hold the CSB Bank shares for the next two years. If they do that, they will get maximum return on their money, said Gorakshakar.
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