Feb 08 2024, 07:39
These 9 bank stocks can give over 18% returns:
There are phases in the market when banking and IT stocks tend to move in opposite directions. But this time, it is the banking space which itself is witnessing contra moves. The private banking space is under pressure and PSU banks are doing well. Now this is again a risker trade but for traders, it is time to keep a watch on private banks as they might see a bounce back when FPI's turn net buyers.
After witnessing a sharp fall, which was primarily led by the HDFC bank, in the last few days the nifty bank has witnessed a bounce back. A part of that bounce back happened due to short covering in private banking, and part of the rise was due to continued rise of the PSU banks space. Probably some amount of the inter sectoral rotation trade has taken place in this space.
For an investor, corrections in the private banking space are opportunities but only with a long term perspective. The reason, as a sector, banks have to witness many headwinds due to the basic nature of the business, so there are phases where they underperform but the strength of their franchises is such that over the long term either by cross selling or others, they are able to create value.
Banking Stocks
- Upside Potential
Feb 7, 2024
Search in table
Bank Name
HDFC Bank
Mean Target Price (Rs)
1,950
Close Price (Rs)
1,444
Analyst Count
41
Target vs. Current (%)
35.0
Bank Name
Bandhan Bank
Mean Target Price (Rs)
270
Close Price (Rs)
218
Analyst Count
27
Target vs. Current (%)
23.6
Bank Name
Indusind Bank
Mean Target Price (Rs)
1,860
Close Price (Rs)
1,511
Analyst Count
41
23.1
Target vs. Current (%)
Bank Name
City Union Bank
Mean Target Price (Rs)
163
Close Price (Rs)
133
Analyst Count
22
Target vs. Current (%)
22.7
Bank Name
Equitas Small Finance Bank
Mean Target Price (Rs)
123
Close Price (Rs)
102
Analyst Count
17
Target vs. Current (%)
Bank Name
21.2
Axis Bank
Mean Target Price (Rs)
1,270
Close Price (Rs)
1,050
Analyst Count
41
20.9
Target vs. Current (%)
Bank Name
ICICI Bank
Mean Target Price (Rs)
1,230
Close Price (Rs)
1,026
Analyst Count
42
19.8
Target vs. Current (%)
Bank Name
Federal Bank
Mean Target Price (Rs)
176
Close Price (Rs)
147
Analyst Count
32
19.8
Target vs. Current (%)
Bank Name
Mean Target Price (Rs)
AU Small Finance Bank
733
Close Price (Rs)
617
Analyst Count
23
Target vs. Current (%)
18.9
source:et
Feb 08 2024, 09:21