Mumbai-Based DCB Bank's Shares Jump Over 3% After 'Buy' Call From Motilal Oswal

DCB Bank shares started the day's trade on a positive note on Thursday, June 20. The Mumbai-based bank's shares rose after a 'Buy' call from brokerage company Motilal Oswal. Motilal Oswal has kept a target of Rs 175.

DCB Bank Shares Rise

In the early hours of the trading hour, the bank's shares rose 3.91 per cent or Rs 5.38, taking the cumulative value of the shares to Rs 142.90.

The private sector bank had managed to garner greater revenue and push its net profit by 9.47 per cent.

The bank made a cumulative profit of Rs 155.68 crore in the quarterly earnings that were released a few weeks ago. In addition, the net interest income accrued by the bank has also jumped to Rs 507.48, reflecting a 4.43 per cent gain in the quarter.

Incorporated in 1995, the bank has a total market cap of Rs 4,301.69 crore.

 Over the past 5 days, the shares of the company have risen 6.03 per cent or Rs 8.13. In fact, the bank's shares have seen a steady growth of 13.28 per cent over the past 6 months.

Banking Shares in a Mix

In the intraday trade so far, banking shares are trading in a mixed bag as SBI and ICICI bank shares are trading in red, while HDFC bank, RBL bank, and Axis bank are trading in greener territory, compared to their counterparts.

All in all, it is interesting to note, that the marquee indices of BSE Sensex and NSE Nifty are trading in red, meanwhile, Nifty Bank is trading in positive territory.

In the early hours of the day, Sensex was trading at a deficit of 0.11 per cent or 85.50 points, putting the overall tally at 77,252.09. Nifty also dipped by 0.14 per cent or 32.50 points, slipping to 23,483.50. Nifty Bank stood out, as it climbed to 51,592.10, jumping 0.38 per cent or 194.05 points.