AU Small Finance Bank Share Price Today: AU Small Finance Bank, NSE: AUBANK, shares on Thursday rallied 15 per cent a day after the bank received regulatory approval for the reappointment of Sanjay Agarwal as MD and CEO and Uttam Tibrewal as wholetime director for three years, w.e.f. from April 19, 2023 to April 18, 2026.
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The stock opened sharply higher at Rs 630, up Rs 50 apiece or around 9 per cent, from previous close of Rs 580.15. The scipp quoted at Rs 663 apiece around 11 AM, up 14 per cent.
As many as 2.02 crore shares of the company changed hands around the same time at an average price of Rs 656.83 per share, according to exchange data.
With Sanjay Agarwal continuing as MD and CEO, it is believed that the bank will regain stability.
Domestic brokerage firm ICICI Securities said that the top management continuity will improves visibility on continuation of growth journey like in the past – scale with robust asset quality and profitability.
It said that the recent correction in the stock price was unwarranted and that it is well poised to deliver over 20 per cent advance growth and continue improving the RoE trajectory.
AU Small Finance Bank Share Price Target
“We upgrade the stock to BUY from Add with a revised target price of Rs770 (Rs 700 earlier),” the brokerage said.
As per 4QFY23 business update shares by the bank, it delivered robust 26 per cent YoY growth in gross advances with the deposit base growing 32 per cent YoY. CASA ratio was flat QoQ at 38.4 per cent in Q4FY23.
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AU Small Finance Bank shares have given a negative return of over 5 per cent in the last one year. Its 52-week range is Rs 732.98 – Rs 539.
