Ambit Capital slashes price target for Bandhan Bank by 84%, maintains sell
Bandhan Bank shares closed 0.7% lower at ₹192.30 apiece on BSE on Thursday. Since January, the stock has declined 60%
A significant deterioration in the lender's asset quality is likely in FY21 due to the covid-19 outbreak
NEW DELHI: Ambit Capital has slashed the target price for shares of Bandhan Bank by 84% to ₹65 from ₹365 as it expects a significant deterioration in the lender's asset quality in FY21 due to the covid-19 outbreak. The brokerage has maintained its 'sell' rating on the stock.