DCB Bank share price touches 52-week high on third day in a row. Buy or sell?
Stock market today: DCB Bank shares have been in uptrend since December 2023. After bottoming out at around ₹113 apiece levels in December 2023, this banking stock has remained an ideal buy on dips stock for stock market investors. In last one month, DCB Bank share price has risen from around ₹113 to ₹150 apiece levels on NSE, delivering to the tune of 28 per cent return to its positional shareholders.
However, it seems that DCB Bank shares still have enough room for upside. DCB Bank share price has been hitting 52-week high for the last three straight sessions. It has been touching 52-week high since 29th December 2023.
DCB Bank share price today opened upside at ₹147 apiece levels on NSE and went on to hit intraday high of ₹150.60 per share levels, which turned out its new 52-week high on Tuesday. Also Read: Vodafone Idea denies tie-up with Elon Musk's Starlink. Share dips According to stock market experts, high interest regime has peaked out and now banks with better CASA will be in high demand.
They said margins and topline improvement has attracted investors towards the banking stock and the rally may further continue in short to medium term. On reasons that are fueling DCB Bank shares, Sandeep Pandey, Founder at Basav Capital said, “Last year, we witnessed rally in banking stocks due to high interest regime. However, after this theme getting peaked out, investors are now looking at those banks which has higher topline income with lower expenses.
In other words, a bank with better CASA will be able to deliver higher return against its peers. DCB Bank shares are an ideal banking stock when we check this on above-mentioned parameters. Apart from this, one of its promoters Aga Khan has declred to pump $10 million in
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