Latest stock research reports with share price targets forecast, buy, hold, and sell recommendations along with upside. Search by company or broker name.
Union Bank reported an 11% miss on PAT at Rs33bn (vs Emkay est.: Rs37bn) owing to impact of wage revision (Rs13.3bn) and tax expenses, which overrode the benefits from higher treasury income and reversal of NPI provisions.
Union Bank of India (UNBK) reported 19% YoY growth in PAT at INR33b (14% miss) in 4QFY24 as opex increased 13.7% YoY to INR76b (24% higher than MOFSLe).
We maintain our BUY' rating on the stock with a revised SOTP-based target price of Rs 1,010/share (Valuing Core-book at 1.5x FY26E ABV as we roll forward multiple and valuing subsidiaries at Rs 219), thereby implying an upside of 23% from the CMP.
SBIN’s 4QFY24 PAT grew 24% YoY to INR207b (28% beat), driven by higher other income, lower opex and lower-than-expected provisions. NII grew 3.1% YoY/4.6% QoQ (in line). NIMs expanded 8bp QoQ to 3.3% (domestic NIMs at 3.47%, up 13bp QoQ).
SBI reported a solid quarter with beat on all fronts. The bank reported RoA of ~1.36% in Q4, led by strong growth in operating profit and lower credit cost.
Indian Bank yet again posted a strong all-around performance, delivering inline PAT at Rs22.5bn/1.2% RoA, on the back of healthy margins (up by 4bps QoQ to 3.44%) and steady improvement in asset quality, with GNPA ratio down to 4%/NNPA to industry-low of 0.4%.
