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DCB Bank Ltd shares surged 7 per cent in early trade, their biggest single-day gain since January 27.
At 11.09 am, the stock was trading up 6.94 per cent or Rs 8 at Rs 123.25 on the BSE.
The bank reported an increase of 61 per cent in Jan-March net profit.
DCB to report 17-20 per cent earnings growth over the next few years, Kotak Securities has said.
It added that DCB remains its preferred mid-cap pick. “Despite the recent outperformance, we still think DCB is a good bank to own,” says Kotak.
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