
Bandhan Bank BANH.NS declines 4.6% to 162.67 rupees after Q2 net profit tanks 88% y/y, hurt by soaring bad loan provisions and a drop in asset quality
Stock set to lose the most in a session since early-April if trend holds
Jefferies cuts PT to 200 rupees from 215 rupees, retains "buy"
Investec cuts TP to 180 rupees from 200 rupees, retains "hold" rating
Both brokerages note problems with asset quality, with Jefferies saying stability is taking longer than expected
Asset quality pressures to continue for 1-2 months before easing gradually, says Investec
Adds, weak microfinance segment dragged overall loan growth
Stock rated "buy" on avg, median PT at 190 rupees - data compiled by LSEG
YTD, BANH up ~2%
($1 = 87.8950 Indian rupees)