The brokerage believes that Indian Bank is one of the best mid-cap PSBs, with strong capital ratios and liability profile, as well as the ability to deliver strong return ratios as growth accelerates. It retains Buy with a TP of Rs220, based on 0.7x Dec’23E ABV, offering 38% upside from CMP.
Valuations remain reasonable post the recent marketwide correction. Hence, it retains Buy with a revised TP of Rs220 (0.7x Dec’23E ABV) from earlier Rs235. Key risks: slow growth/higher NPAs in the SME segment due to a fresh Covid wave and delay in macro pick-up.
Top 10 Bank Stocks to Buy in India – List of Best Bank Shares to Buy
|Stock||LTP (Rs.)||1 Year Change%|
|Stock HDFC Bank||LTP (Rs.) 1510.70||1 Year Change% -2.41|
|Stock ICICI Bank||LTP (Rs.) 751.30||1 Year Change% 23.19|
|Stock SBI||LTP (Rs.) 498.40||1 Year Change% 27.96|
|Stock Kotak Mahindra Bank||LTP (Rs.) 1841.75||1 Year Change% -5.53|
Promoters held 79.86 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.41 per cent, DIIs 10.52 per cent.
Stocks to Buy Today: Best Shares to Buy in India
|B P C L||333.05||331|
Punters on Dalal Street have highlighted various “technical” reasons for the underperformance, including extant overweight positions of institutional investors and selling by foreign portfolio investors (FPIs). In fact, bank stocks constitute the largest holding for FPIs and recently they have been selling loads of it.
Kotak Securities has buy call on Canara Bank with a target price of Rs 234. The current market price of Canara Bank is Rs 225.5.
Shares in Australia’s major banks offer strong long-term returns that can offset the borrowing pain caused by rising interest rates, it has been suggested.
Are bank stocks a good buy?
The cyclicality of bank stocks
Banks can be a great place to invest, especially in strong economies. When consumers are confident to spend and unemployment is low, profits tend to grow and loan defaults are typically kept in check.
As on 23rd Feb 2022 IOB Share Price closed @ 18.65 and we RECOMMEND Sell for LONG-TERM with Stoploss of 20.42 & Strong Sell for SHORT-TERM with Stoploss of 20.65 we also expect STOCK to react on Following IMPORTANT LEVELS.
Bank stocks rally as traders cover shorts
Analysts said sentiment in banks improved after the RBI’s guided for lower inflation, which raised hopes that the central bank could resort to less aggressive rate hikes going forward.
growth stocks for future
|S.No.||Name||Qtr Profit Var %|
Here are a few of the best stocks to buy in India for the long term.
- Reliance Industries. …
- HDFC Bank. …
- Hindustan Unilever. …
- Kotak Mahindra Bank. …
- Bajaj Finance. …
- Bharti Airtel. …
- Asian Paints. …