The stock had risen over 2% on Monday, in response to results announced Saturday, but is down almost 4% over the past year, compared with 2% gains in the Nifty Bank index. This reflects a broader de-rating in banking stocks amid persistent selling by foreign institutional investors, Motilal Oswal Financial Services said. Valuations at about 2.6x FY27 book, based on Bloomberg consensus estimates, leave room for upside if growth sustains, supporting a gradual re-rating.
