These bank stocks can give over 18% returns: After a phase of correction, there have been signs of some respite both in private and PSU banking space. In the case of the private sector, except HDFC bank which is still quoting close to its recent lows, others have been able to start their upward journey once again. In the case of PSU banks, in the last two days of volatility movement, they have been the ones which have been able to recover faster indicating continued interest in the space. 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. For contrarian and short term traders it is time to put the whole banking space on the watchlist and look for two kinds of trade, momentum trade in PSU space and a reversal trade in private banking space. Though in the PSU space, mid-sized banks with low institutional holding probably are better placed for a trade. But again this is trade for high risk traders or investors who have the ability to take a stand against market narrative and take a tactical trade. 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, plus in case of private sector banks, the over ownership by institutional investors itself is something which at times becomes an issue even when valuations are not expensive. 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 14, 2024 Search in table Bank Name HDFC Bank Mean Target Price (Rs) 1,950 Close Price (Rs) 1,394 Analyst Count 41 Target vs. Current (%) Bank Name 39.8 Bandhan Bank Mean Target Price (Rs) 270 Close Price (Rs) 199 Analyst Count 27 Target vs. Current (%) Bank Name Mean Target Price (Rs) Close Price (Rs) Analyst Count Target vs. Current (%) Bank Name Mean Target Price (Rs) 41 27.1 AU Small Finance Bank 35.6 Indusind Bank 1,860 1,463.90 733 Close Price (Rs) 594 Analyst Count 23 Target vs. Current (%) 23.4 Bank Name DCB Bank Mean Target Price (Rs) 156 Close Price (Rs) 127 Analyst Count 20 Target vs. Current (%) 22.8 Bank Name Equitas Small Finance Bank Mean Target Price (Rs) 123 Close Price (Rs) 101 Analyst Count 17 Target vs. Current (%) 21.6 Bank Name City Union Bank Mean Target Price (Rs) 163 Close Price (Rs) 134 Analyst Count 22 Target vs. Current (%) 21.5 Bank Name ICICI Bank Mean Target Price (Rs) 1,230 Close Price (Rs) 1,020 Analyst Count 43 Target vs. Current (%) 20.6 Bank Name Kotak Mahindra Bank Mean Target Price (Rs) 2,080 Close Price (Rs) 1,737 Analyst Count 38 Target vs. Current (%) 19.7 Bank Name Federal Bank Mean Target Price (Rs) 176 Close Price (Rs) 148 Analyst Count 32 Target vs. Current (%) 19.2 Bank Name Axis Bank Mean Target Price (Rs) 1,270 Close Price (Rs) 1,071 Analyst Count 41 Target vs. Current (%) 18.6 source: et
Feb 15 2024, 10:09
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