Banking sector is probably the best proxy play to the Indian economy. The reason, banks provide the lifeline of capital to all the sectors which form part of any economy, whether it is retail loans or corporate loans. So when these sectors do well, banks have a higher credit growth. So, if the economy is likely to grow faster than there is no way banks are not going to do well. Because there is a certain amount of ownership overhang in private sector banks and also the fact that voices from India’s largest bank are expecting to witness a revival of the capex cycle, it would be better to have a basket of stock from both segments of the banking sector. Until yesterday, the correction in bank stocks was largely led by HDFC bank, today, some of the PSU banks have witnessed some minor decline from their high’s. At this point of time, it could be just another round of profit booking but it would be better to keep an eye given the a segment where fundamentals have improved after d
The RBL Bank stock has given a return of 50.28 percent over the last six months. The benchmark Nifty Bank index has given a return of 6.74 percent over the same duration.
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Click here to know more.
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Click here to know more.
Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Click here to know more.