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Private-sector bank Historical case study · data as of 24 Jul 2026 · published 27 Oct 2026 (95 days later)

Bandhan Bank — 100-point case study

How Bandhan Bank looked on 50 technical and 50 fundamental measures on 24 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: BANDHANBNK · BSE: 541153
Close on 24 Jul 2026	₹165.93
Market cap then	₹26,433 crore
Valuation	P/E 21.6× · P/B 1.03×
Momentum	RSI (14) 28 · 1-year return -9.9%
Next 3 months	-9.1% vs Nifty 50 -4.3% (to 26 Oct 2026)

Scorecard

Technical — 50 points

3 bullish · 19 neutral · 5 caution · 22 bearish — the picture leaned negative.

Fundamental — 50 points

7 bullish · 30 neutral · 0 caution · 12 bearish — the picture leaned negative.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: Screener's consolidated page was empty, so standalone figures are used. Bandhan Bank reported its Apr–Jun 2026 (Q1 FY27) results on 21 Jul 2026, three days before the snapshot, and the share fell about 17% the next day; the 50-point fundamental scorecard is built on the Jan–Mar 2026 quarter and annual FY26 data, so the Q1 FY27 numbers appear only in the 'what happened next' section.

Technical analysis — 50 points

Calculated by code from daily prices up to 24 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope -0.52%/day	Bearish	Over the last 20 sessions the regression line of closing prices was falling about 0.52% a day — a short-term downtrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -4.6%	Bullish	The 100-session trend line was up (+0.25%/day) and the stock was -4.6% over three months, so the medium-term picture was bullish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -9.9%	Neutral	Compared with a year earlier the price was -9.9%. Little net progress over twelve months. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 201.30 / 30W 178.59	Neutral	On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 218.13→220.76; lows 197.50→194.82	Neutral	The two most recent swing points showed a higher high but a lower low — mixed structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	20.9	Bearish	ADX at 20.9 shows a trend of moderate strength. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 15.3 / –DI 42.2	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	201.31 (-17.6%)	Bearish	Close of 165.93 was 17.6% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	202.48 (-18.1%)	Bearish	Close of 165.93 was 18.1% below the 50-day SMA — the medium-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	171.91 (-3.5%)	Bearish	Close of 165.93 was 3.5% below the 200-day SMA — the long-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 189.54 / 21E 198.17	Bearish	The 9-day EMA was below the 21-day EMA; the last crossover happened on 22 Jul 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bullish	The 50-day average was 17.8% above the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	+2.4% in 20 sessions	Bullish	The 50-day average rose 2.4% over the past month — rising. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	201 / 202 / 189 / 172	Neutral	The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range. Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	188.03 (-11.8%)	Bearish	Anchored to the start of July, the volume-weighted average price was 188.03; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	28.0	Caution	RSI at 28.0 was oversold (≤30) — weak but stretched to the downside, where bounces often occur. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD -6.05 / signal -0.89	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	0.61 → -5.16	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	-6.05	Bearish	MACD below zero means the 12-day EMA was below the 26-day EMA — a negative momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 5.4 / %D 22.8	Caution	Slow stochastic at 5.4 was in oversold territory (<20). Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-93.2	Caution	%R of -93.2 put the close near the bottom of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-248	Bearish	CCI at -248 signalled an unusually strong downward deviation (<–100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-21.0%	Bearish	Price changed -21.0% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B -0.08 (bands 171.00–231.63)	Caution	%B of -0.08 — close below the lower band, an overextended drop. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 30.1% (82nd pct of 6M)	Neutral	Band width was at the 82nd percentile of the last six months, a normal level. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹9.42 (5.7% of price)	Neutral	A typical day's range was about ₹9.42, or 5.7% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	68.3% vs 1Y 41.9%	Caution	Annualised 30-day volatility was 68.3%, well above the one-year level of 41.9%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	177.66–218.06	Bearish	The close was below the lower channel — a strong trending push. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	1.65	Neutral	A beta of 1.65 means the stock tended to move more than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 1.47× / 5-day 2.49×	Neutral	The final session traded 1.47× its 20-day average volume and the last five sessions averaged 2.49× — heavier than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 0.50	Bearish	Average volume on up days was 0.50× that on down days — distribution-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV falling	Bearish	OBV fell over the month while price fell — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.28	Bearish	CMF at -0.28 indicated net outflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	21.8	Bearish	MFI, a volume-weighted RSI, was 21.8. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹377 cr/day	Neutral	About ₹377 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	161.38 / 154.24 / 148.71	Neutral	Nearest support (prior swing lows) sat at 161.38, 2.8% below the close, then 154.24, 148.71. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	168.61 / 177.22 / 185.37	Neutral	Nearest resistance (prior swing highs) sat at 168.61, 1.6% above the close, then 177.22, 185.37. How to read: Information only.
40	Monthly pivot points (for next month)	P 182.88 \| R1 203.81 \| S1 145.00	Neutral	Classic pivots from July's high/low/close gave a pivot of 182.88; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 201 \| 38.2% 189 \| 50.0% 179 \| 61.8% 169	Neutral	Measuring the 6-month rise from 136.90 to 220.76, the close was nearest the 61.8% retracement at 168.93. How to read: Information only.
42	52-week high / low	H 220.76 / L 134.25	Neutral	The close was 24.8% below the 52-week high and 23.6% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	2 open; latest gap-down 22 Jul at 206.60	Neutral	There were 2 unfilled gap(s). The latest, a gap-down on 22 Jul 2026, left an open level at 206.60 that price had not revisited. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	pullback inside a larger uptrend	Neutral	Rule-based pattern scan: pullback inside a larger uptrend. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 164.85–220.76	Neutral	The close was inside the prior 20-day range of 164.85–220.76. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Doji	Neutral	On 24 Jul the candle opened 165.50, ranged 161.95–167.71 and closed 165.93: Doji — indecision. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 179.41–204.08; Tenkan 191.35 / Kijun 191.35	Bearish	Price was below the cloud and the Tenkan line was below the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -20.6% / 3M -2.9%	Bearish	The stock underperformed the Nifty 50 by 2.9 points over three months and underperformed by 20.6 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty Bank	3M -5.3%	Bearish	Against its sector index (Nifty Bank) the stock was 5.3 points behind over three months. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	3 bullish · 22 bearish · 19 neutral · 5 caution	Bearish	Across the 49 readings the technical picture leaned negative. Levels that mattered: support 161.38, resistance 168.61. This is a description of the chart on 24 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 24 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Jun 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 24 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	21.6×	Neutral	At ₹165.93 the market valued the company at about ₹26,433 crore, or 21.6× the ₹1,224 crore profit of the four quarters to Mar 2026. That is a moderate multiple. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	1.03×	Neutral	Market cap was 1.03× the Mar 2026 book value (equity + reserves) of ₹25,575 crore. For a bank, P/B is the main valuation yardstick. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Revenue (interest earned)	1.22×	Neutral	Market cap was 1.22× trailing-12-month revenue (mainly interest earned) of ₹21,689 crore. How to read: Information only.
4	Profit / Book (earnings power)	4.8%	Neutral	Trailing profit was 4.8% of book value — the return the bank was generating on the equity investors were paying 1.03× for. How to read: Information only.
5	Earnings yield	4.6%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹4.6 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	n/m	Neutral	PEG is not meaningful because 3-year profit growth was -17.7%. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	0.90%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹1.5 a share, a 0.90% yield on the ₹165.93 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹26,433 cr	Neutral	At about ₹0.26 lakh crore the company was a small-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹166.59 vs ₹165.93	Bullish	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹166.59; the price was 0% below it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	-1.2%	Bearish	Revenue (interest earned) for FY26 was ₹21,689 crore, -1.2% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	-0.1%	Bearish	The Jan–Mar 2026 quarter brought ₹5,428 crore of revenue, -0.1% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	-55.4%	Bearish	FY26 net profit was ₹1,224 crore, -55.4% on FY25's ₹2,745 crore. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+67.9%	Bullish	Quarterly profit was ₹534 crore versus ₹318 crore a year earlier (+67.9%). Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	10.9%	Neutral	Revenue compounded at 10.9% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	-17.7%	Bearish	Net profit compounded at -17.7% a year from FY23 to FY26. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	11.6%	Neutral	Over five years (FY21–FY26) revenue compounded at 11.6% a year. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	-55.4%	Bearish	Reported EPS went from ₹17.04 to ₹7.60 (-55.4%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Net interest margin (Q4 FY26)	6.20%	Bullish	NIM — the spread between what the bank earns on loans and pays on deposits — was 6.20% in Jan–Mar 2026 (as reported). Above ~3.5% is strong for an Indian bank. Bullish 3.5% or more · Bearish below 3.0% · Neutral 3.0–3.5%.
19	Net interest income growth (Q4 FY26)	+1.4%	Bearish	Core interest income after interest expense was ₹2,796 crore, +1.4% year on year (standalone, as reported). Bullish above 10% · Bearish below 5% · Neutral 5–10%.
20	Net profit margin FY26	5.6%	Neutral	₹5.6 of every ₹100 of interest-led revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	4.9%	Bearish	FY26 profit was 4.9% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	Leverage (assets ÷ equity)	8.3×	Neutral	Total assets were 8.3× equity — normal for banks, which fund most assets with deposits. How to read: Information only — banks normally run high leverage.
23	Return on assets FY26	0.58%	Bearish	Net profit was 0.58% of total assets. For banks, ROA above 1% is considered healthy. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	29%	Neutral	The company paid about 29% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Q4 FY26 standalone profit (reported)	₹534 cr (+68.0%)	Bullish	The bank's own (standalone) Jan–Mar 2026 profit as reported was ₹534 crore, +68.0% year on year. Bullish above 12% year on year · Bearish below 0% · Neutral 0–12%.

D. Asset quality & capital

#	Point	Reading	Tag	Commentary
26	Gross NPA (Q4 FY26)	3.30%	Neutral	Gross non-performing assets were 3.30% of loans — elevated. Bullish below 2% · Bearish above 4% · Neutral 2–4%.
27	Net NPA (Q4 FY26)	1.00%	Neutral	After provisions, net NPAs were 1.00% of loans. Bullish below 0.6% · Bearish above 1.5% · Neutral 0.6–1.5%.
28	CASA ratio	29.0%	Bearish	Low-cost current and savings deposits made up 29.0% of deposits — a higher CASA means cheaper funding. Bullish above 40% · Bearish below 30% · Neutral 30–40%.
29	Capital adequacy (CRAR)	18.00%	Bullish	Capital adequacy was 18.00%, comfortably above the RBI minimum of 11.5% (incl. buffer). Bullish above 16% · Bearish below 13% · Neutral 13–16%. RBI minimum incl. buffer is 11.5%.
30	Loan (advances) growth	+12.6%	Neutral	Advances grew +12.6% year on year (as reported). Bullish above 14% · Bearish below 8% · Neutral 8–14%.
31	Deposit growth	+10.0%	Neutral	Deposits grew +10.0% year on year (as reported). Bullish above 12% · Bearish below 7% · Neutral 7–12%.
32	Deposit base (consolidated)	₹1.66 lakh cr	Neutral	Consolidated deposits were ₹1,66,344 crore at Mar 2026, +10.0% on a year earlier. How to read: Information only.
33	Book value growth	+3.9%	Neutral	Equity grew +3.9% to ₹25,575 crore — banks need book growth to support loan growth. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹1,143 cr	Neutral	Operating cash flow was ₹1,143 crore. For banks this swings with deposit and loan flows, so it says little about profitability. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Investing cash flow FY26	₹317 cr	Neutral	Investing flows for banks mostly reflect securities and fixed-asset purchases. How to read: Information only — for banks these swing with deposit and loan flows.
36	Financing cash flow FY26	₹2,923 cr	Neutral	Financing flows reflect borrowings raised/repaid and dividends paid. How to read: Information only — for banks these swing with deposit and loan flows.
37	Net cash flow FY26	₹4,382 cr	Neutral	Overall cash and balances changed by ₹4,382 crore in FY26. How to read: Information only — for banks these swing with deposit and loan flows.
38	Investment book growth	-5.0%	Neutral	The investment portfolio (mostly government securities) moved -5.0% to ₹38,668 crore. How to read: Information only.
39	Loan growth minus deposit growth	+2.6 pts	Neutral	Loans grew 12.6% and deposits 10.0%. When loans outpace deposits for long, banks must pay up for funding — a margin risk. How to read: Caution when loans grew more than 4 points faster than deposits (funding pressure). Neutral otherwise.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	20%	Neutral	The company paid out about 20% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	11% / 9% / 20%	Bullish	Payout ratios for FY24 / FY25 / FY26 — dividends were paid every year. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+0.0%	Neutral	Paid-up equity capital changed +0.0% (₹1,611 cr → ₹1,611 cr). Essentially unchanged — no dilution. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	37.54% (-3.38 pts YoY)	Bearish	Promoters owned 37.54% at Jun 2026 versus 40.92% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	18.64% (-5.70 pts YoY)	Bearish	FIIs held 18.64% at Jun 2026, down from 24.34% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	27.47% (+10.95 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 27.47%, up from 16.52%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	6.6 lakh (-15.7% YoY)	Neutral	The shareholder count moved from 7.9 lakh to 6.6 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	3/8	Bearish	Passed: positive profit, CRAR ≥ 14%, no meaningful dilution (<3%). Failed: profit grew, ROA ≥ 1%, gross NPA < 3%, net NPA < 1%, ROE ≥ 12%. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	2 strength(s) · 6 weakness(es)	Neutral	Strengths: Stock is trading at 0.95 times its book value; Company has reduced working capital requirements from 71.8 days to 38.5 days. Weaknesses: Company has a low interest coverage ratio; Promoter holding has decreased over last quarter: -0.54%; The company has delivered a poor sales growth of 11.6% over past five years; Company has a low return on equity of 9.01% over last 3 years; Contingent liabilities of Rs.28,896 Cr; Dividend payout has been low at 13.1% of profits over last 3 years. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	7 bullish · 12 bearish · 30 neutral · 0 caution	Bearish	On the numbers published by 24 Jul 2026 the fundamental picture leaned negative. Valuation: P/E 21.6×, P/B 1.03×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 24 Apr 2026 – 24 Jul 2026 that an investor could have known on the snapshot date.

28 Apr 2026 Bandhan Bank Q4 FY26 Results: Profit Jumps 68% To Rs 534 crore — Q4 FY26 net profit Rs 534 crore vs Rs 318 crore a year earlier; NII Rs 2,796 crore (+1.4% YoY); GNPA 3.3%, NNPA 1.0%; NIM 6.2%; Board recommended dividend of Rs 1.50 per share. source
29 Apr 2026 Why Bandhan Bank share price surged 10% — Shares rose about 10% after Q4 profit beat estimates on lower provisioning; management guided 10-20 bps further NIM expansion and 14-15% loan growth; several brokerages raised targets. source
20 May 2026 SBI Mutual Fund raises Bandhan Bank stake to 5.04% via market purchases — SBI Mutual Fund schemes bought 16,98,478 shares in the open market on May 20, 2026, taking holding to 5.0432% of paid-up capital. source
21 Jul 2026 Bandhan Bank's Q1FY27 net profit jumps 35 pc to Rs 502 cr — Q1 FY27 net profit Rs 502 crore vs Rs 372 crore; NII Rs 2,921 crore (+5.9%); gross advances +16.4% YoY; GNPA 3.1%, NNPA 0.9%; provisions down 40% YoY; CRAR 18.2%. source
22 Jul 2026 Bandhan Bank shares fall 16% despite 35% rise in Q1 FY27 net profit — Shares fell about 16% intraday the day after Q1 FY27 results despite profit growth and improved asset quality; deposits grew 6.6% YoY. source

What happened next (24 Jul 2026 → 26 Oct 2026)

Price went from ₹165.93 to ₹150.86 by 26 Oct 2026 (-9.1%) while the Nifty 50 moved -4.3% — underperforming by 4.8 points.
Highest ₹193.00 on 23 Sep 2026; lowest ₹143.69 on 26 Oct 2026.
S1 161.38: broken on a closing basis on 08 Oct 2026.
S2 154.24: broken on a closing basis on 23 Oct 2026.
R1 168.61: cleared on a closing basis on 27 Jul 2026.
R2 177.22: cleared on a closing basis on 21 Sep 2026.
200-day SMA: price was below it at the snapshot and crossed above on 29 Jul 2026.
Apr–Jun 2026 results (reported 21 Jul 2026): standalone profit ₹502 crore (+34.9% YoY), NIM 6.20%, gross NPA 3.10%, net NPA 0.90%.

Later news

08 Sep 2026 Bandhan Bank clarifies news on credit card launch and share price rise — Bank launched a credit card portfolio with Mastercard on Sept 7, 2026 and told exchanges the share price rise was market-driven and the launch was not a material event. source
04 Oct 2026 Bandhan Bank Q2 FY27: Loans rise 13% to Rs 1.58 lakh crore, deposits up 9% — Provisional Sept 30, 2026 figures: loans Rs 1,58,335 crore (+13.1% YoY), deposits Rs 1,72,689 crore (+9.2% YoY); CASA ratio 26.71% vs 29.40% in June. source
13 Oct 2026 Bandhan Bank shares jump 9% as IHC explores buying promoter stake; bank says unaware of talks — Report said Abu Dhabi's IHC and others were in early talks to buy a stake in promoter Bandhan Financial Services; the bank told exchanges it was not aware of any such development. source

Educational summary. On 24 Jul 2026 the technical picture leaned negative and the fundamental picture leaned negative. Over the next three months the stock moved -9.1% against -4.3% for the Nifty 50. Here the chart's message lined up with what followed. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Bandhan Bank today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 27 Oct 2026); index — Nifty 50, Nifty Bank via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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