Sandip Sabharwal expresses concerns about the IT sector due to unclear growth trends and excessively bullish management on margins. In auto stocks, Maruti s resurgence cycle looks promising, while ICICI Bank stands out among private banking majors. Skipping the IT sector is advised, with cautious optimism towards Apollo Hospitals and turnaround banks.
By the 12.15 pm on Monday, BSE Sesnex rose more than 680 points, or 0.90 per cent to 74,410.56. NSE's Nifty50 index rallied more than 150 points, or 0.70 per cent to 22,571.55.
While these lenders were able to increase deposits at a faster clip during the quarter, the growth was accompanied by higher interest outgo, thereby contracting net interest margins (NIMs) year-on-year. The sample includes HDFC Bank, ICICI Bank, Axis Bank, IndusInd Bank and Yes Bank. Kotak Mahindra Bank is expected to declare quarterly numbers on May 4.