India Business News: FD rates: Analysts predict that deposit rates in India will stay elevated due to strong credit growth, tight liquidity, and fierce competition for fun
Nitin Aggarwal says: “For PSU banks also, we are expecting a NIM compression in the single digit because to some extent, the NIMs will be shielded by the MCLR repricing for them. But overall, the rates are still elevated. Certain banks have still increased deposit rates in certain maturities. And going into the busy Q4, the fight for deposits will remain intense.”
"A reflection on PSBs valuation history may cause trading multiples to look constrained, however the quality of earnings, growth outlook and broader re-rating in PSU entities will nevertheless enable steady performance of the sector," Motilal analysts including Nitin Aggarwal said.
“From a short term perspective, yes, there remains a lot of iuncertainty and which is why the Paytm stock has reacted in such a volatile way and one can only wait for things to normalise over the medium term, which is where we have maintained our buy on the stock.”
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