Bandhan Bank Ltd up by 3.36 percent - Traders Corners | Espresso

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Espresso shot of the day – Bandhan Bank Ltd up by 3.36 percent

March 23, 2021
Espresso shot of the day – Bandhan Bank Ltd up by 3.36 percent

BANDHAN BANK LTD 364.45 (+3.36%)  BSE – INE545U01014| 23RD  MARCH 2021

It all began in the 1990s, when Chandra Shekhar Ghosh observed the plight of Kolkata’s small-time traders. To grow their business, they had no option except high-interest loans from traditional moneylenders. His deep desire to help them led to the creation of Bandhan Bank Ltd., a microfinance institution providing loans – and hope – to the poorest. Soon, Bandhan Bank Ltd. made history by growing into a bank that serves all socio-economic sections across the country. Today, Bandhan Bank Ltd. has truly expanded, but its mission remains the same – to build a new and financially-inclusive India.

Recent Drivers

  • On 20th March 2021, Bandhan Bank Ltd. appointed Subrata Dutta Gupta,former International Finance Corporation executive and Suhail Chander, former IndusInd Bank executive to its board.
  • On 17th March 2021, Bandhan Bank Ltd. has allotted 15,834 equity shares under ESOP.
  • The West Bengal election manifesto promises development and does not propose any waiver for micro-borrowers, which comes as a relief for the Bandhan Bank Ltd.
  • On 23rd March 2021, The Supreme Court stopped banks from charging compound interest (interest on interest) or penal interest on any loan, irrespective of the amount, during the moratorium period.
  • Bandhan Bank Ltd. reported quarterly net profit at Rs 632.59 crores in December 2020 down 13.47%
  • Bandhan Bank Ltd. reported operating profit stands at Rs 1,914.08 crores in December 2020 up 51.44% from Rs. 1,263.88 crore in December 2019.
  • Bandhan Bank Ltd. reported Net Interest Income (NII) at Rs 2,071.73 crore in December 2020 up 34.5% from Rs 1540.2756 crores in December 2019.
(Sources: MoneyControl, The Hindu, Business Standard, CNBC TV-18, The Banking and Finance Post)

Technical Force*

  • S&P BSE ALL CAP month till date gain up by 2.07%
  • 3 months avg qty – 706,265
  • Quantity traded 4,73,285 Deliverable quantity 1,80,085(38.05%)
  • Stock price has jumped more than 135% from one year low level – 152.35, 25 March 2020
  • Daily RSI (14) is in overbought territory today
  • 52 -week high – 430.25 | 52- week low- 152.35

Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

941.22

733.48

567.82

360.08

194.42

-

-

-

Fibonacci Pivot

733.48

590.84

502.72

445.97

360.08

274.20

217.44

129.32

-


Today’s Close

364.45

SMA

BSE

10 DAY

346.45

20 DAY

345.30

50 DAY

343.58

200 DAY

335.38

Some Key Ratios (Source: BSE)

Market Cap: 58,697.71 crores

PE: 21.67

OPM%: -

ROE%: 15.72

Promoters holding : 40

Prev. Close: 352.60

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.