India's Jana Small Finance Bank gains on ICICI's "buy" on earnings rebound bet

Jana Small Finance Bank

22/01/2025 07:25

** Shares of Jana Small Finance Bank  JANA.NS  jump 18% to
431.25 rupees, set for their best day in nine months
    ** Lender reports 18% Y/Y drop in Q3 net profit, hurt by
high credit costs
    ** ICICI Securities, though, upgrades JANA to "buy" from
"add" as it expects earnings to rebound from FY26
    ** Says credit costs to stay high in Q4 but FY26 may be a
normalised year as costs begin to subside
    ** Brokerage cuts PT to 485 rupees from 580 rupees
    ** More than 7.2 mln shares traded in stock's busiest day
since May 2024
    ** Stock gains 17% since trading debut in Feb 2024

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))