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CSB Bank makes stellar debut; shares surge 54%

The smart rally in CSB stock has pushed its valuation to 3.4 times of book value.

Kerala-headquartered CSB Bank made a stellar debut on the bourses on Wednesday as investors bet on its robust operational efficiencies along with healthy loan growth, which was largely driven by a strong gold loan portfolio. The stock of CSB Bank surged as much as 53.9% on Wednesday to close the session at Rs 300.10 on the BSE.

The smart rally in CSB stock has pushed its valuation to 3.4 times of book value. That compares with the price-to-book value of 2.1 times for RBL Bank and 1.7x for DCB Bank.

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Source: Financial Express