India's AU Small Finance Bank gains after Motilal Oswal hikes TP

AU Small Finance Bank

19/09/2024 08:39

** Shares of AU Small Finance Bank  AUFI.NS  climb 2.7% to
743.65 rupees, its highest in eight months 
    ** Motilal Oswal raises target price to 830 rupees - ~15%
premium on last close - from 735 rupees earlier; keeps "buy"
rating on stock 
    ** New TP third-highest among 23 brokerages covering the
stock - LSEG data 
    ** Brokerage says AUFI well-positioned for strong growth,
backed by steady operating profitability as co banks on its
merger with Fincare Small Finance Bank  FINR.NS  
    ** Expects co's application for universal banking license to
improve brand positioning, foster growth by enhancing customer
acquisition and deposit productivity 
    ** Analysts' avg rating on stock is "Buy", median PT is
717.5 rupees - LSEG
    ** Stock down ~5.6% YTD 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))