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ICICI bank: ICICI Bank a top buy for brokerages - The Economic Times

ICICI bank: ICICI Bank a top buy for brokerages - The Economic Times
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As Nifty Bank flirts with bear market, some see room for 10% more fall

As Nifty Bank flirts with bear market, some see room for 10% more fall SECTIONS Share Synopsis Analysts believe that buying the dip in banking stocks may not be the most prudent strategy for investors. Getty Images Related NSE Explore Now MUMBAI: As Nifty Bank index flirts with another bear market in the span of just 14 months, analysts are concerned that the worst of the selling pressure is yet to come for bank stock investors. The banking index has fallen 18 per cent from a record high 37,708 hit on February 16, as rising Covid infections and localised lockdowns have led investors to believe that concerns around asset quality will only worsen.

Unfazed by Covid onslaught, brokerages eye up to 50% upside in IRCTC

The recent spike in Covid-19 cases in the country poses near-term risks to Indian Railway Catering and Tourism Corporation s (IRCTC) growth, but the company s monopolistic nature of business, low fixed-cost model and healthy net-cash position have analysts hooked. The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9 amid worries over the steady rise in Covid cases. Yet, this has not deterred brokerages from holding a bullish view on the stock. Accelerated adoption of online ticketing, conversion of unreserved coaches to 2S class, increase in capacity in the packaged drinking water (PDW) business and resumption of private trains will likely act as a ‘profit windfall’ in the coming quarters, say analysts, and should boost IRCTC s growth.

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