INSUBCONTINENT EXCLUSIVE:
Mumbai: The initial euphoria in shares of Fairfax-backed CSB Bank, which made a blockbuster debut on the exchanges last week, seems to have
has dropped 29 per cent from those levels.
On Thursday, the stock ended down 7.35 per cent lower at Rs 223 on Thursday
Analysts said rich valuations following the run up after listing prompted investors to book profits but they do not expect the stock to
and many PSU banks are trading below one
corporate affairs at IIFL
Bhasin prefers Federal Bank, DCB Bank and IDFC Bank over CSB
The Rs 410-crore issue was subscribed 84 times led by demand from institutions and high net worth investors.
Deepak Jasani, head of retail
research at HDFC Securities said fair value for the stock could be just above its IPO issue price of Rs 195
total income Rs 1,617.5 crore in FY17, Rs 1,422.3 crore in FY18 and Rs 1,483.4 crore in FY19
It incurred a net loss of Rs 58 crore, Rs 127.1 crore and Rs 65.7 crore, respectively, during these fiscal years.
For the first halfyear of
FY20, the bank posted a profit of Rs 44.3 crore on a total income of Rs 816.7 crore
From FY17 to FY19, the earnings per share and return on net worth of CSB Bank was negative, but for the first half of FY20, it reported an
EPS of Rs 3.86.
Brokerage Emkay Global said that the bank has done reasonably well in its first phase of transformation over the past two to
But, the second phase of the transformational journey to take the bank to a new growth phase will be challenging.