Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time
RBI's approval for reappointment of MD & CEO being for a lower tenure compared to board approval, which was for three years, could keep stock under pressure in near term
Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained
Hinduja group is planning to raise its stake in the private sector lender from 15 per cent to 26 per cent with an investment of Rs 10,000 crore
The Hinduja group has also offered to take over Reliance Capital for Rs 9,000 crore, but its offer is facing litigation from its rival bidder Torrent
Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.
Nuvama Institutional Equities has downgraded IndusInd Bank's stock to 'hold' from 'buy'
Lower provisions boost numbers for lender; NIM maintained despite higher deposit rates
While the deposit growth came in healthy at 3 per cent QoQ (up 14.3 per cent YoY to Rs 3.25 trillion), the CASA mix declined 40bp QoQ to 42 per cent
Friday's correction saw a sharp short-covering on Monday as market put aside fears around the Covid-19 situation in China
If IndusInd Bank breaks support at Rs 1,110, the stock can dip to Rs 1,000-mark; Whereas, Ashok Leyland needs to clear its near hurdle at Rs 160 for fresh strength to emerge.
Here's how key constituents of the Nifty Bank index look on the charts.
The bank reported a healthy 57 per cent YoY growth in July-September standalone net profit to Rs 1,805 crore driven by a healthy rise in loan disbursement and net interest income.
Should see 18-20% credit growth in FY23 says Sumant Kathpalia, MD & CEO, IndusInd Bank
Gross bad loans as a percentage of total loans, a measure of asset quality, eased to 2.11% at the end of September, from 2.35% at the end of June
Among individual stocks, the technical analyst from HDFC Securities recommends buying IndusInd Bank and Mahindra CIE.