Financial results for the March’24 quarter are on the roll and, based on the same, various Brokerage Firms are coming up with stock targets for the retail (public) investors to keep track of. In addition, the ‘Nifty Bank’ index is at an all-time high level and the same was recorded at 49,473.60.
Listed below are three stocks associated with the “Banking” sector that one could add to their watchlist for a potential upside of up to 40 percent:
Axis Bank Limited
With a market capitalization of Rs 3.57 lakh crores, the stocks of Axis Bank Limited closed at Rs 1,158 on Monday, gaining approximately 2.50 percent compared to the previous closing level of Rs 1,130.05 apiece.
IDBI Capital gave a ‘Buy’ call on the Bank with a target price of Rs 1,400 per share, indicating a potential upside of approximately 21 percent compared to the prevailing share price level.
Having a glance at the latest financials, the Bank’s primary business indicators, viz, its total income as well as net profits, showed some positive movements with the former increasing from Rs 28,865 crores during Q3FY24 to Rs 30,231 crores during Q4FY24, and the latter, keeping the timeframe the same, rising from Rs 6,520 crores to Rs 7,630 crores.
Equitas Small Finance Bank Limited
With a market capitalization of Rs 11,185.45 crores, the stocks of Equitas Small Finance Bank Limited closed at Rs 98.56 on Monday, slipping approximately 0.30 percent compared to the previous closing level of Rs 98.88 apiece.
Motilal Oswal gave a ‘Buy’ call on the Bank with a target price of Rs 125 per share, indicating a potential upside of approximately 27 percent compared to the prevailing share price level.
Having a glance at the latest financials, the Bank’s primary business indicators, viz, its total income as well as net profits, showed some positive movements with the former increasing from Rs 1,429 crores during Q3FY24 to Rs 1,445 crores during Q4FY24, and the latter, keeping the timeframe the same, rising from Rs 202 crores to Rs 208 crores.
IndusInd Bank Limited
With a market capitalization of Rs 1.16 lakh crores, the stocks of IndusInd Bank Limited closed at Rs 1,489.90 on Monday, gaining approximately 3 percent compared to the previous closing level of Rs 1,445.85 apiece.
ICICI Securities gave a ‘Buy’ call on the Bank with a target price of Rs 2,000 per share, indicating a potential upside of approximately 35 percent compared to the prevailing share price level.
Having a glance at the latest financials, the Bank’s primary business indicators, viz, its total income as well as net profits, showed some positive movements with the former increasing from Rs 11,572 crores during Q3FY24 to Rs 12,199 crores during Q4FY24, and the latter, keeping the timeframe the same, rising from Rs 2,298 crores to Rs 2,347 crores.
Written by Amit Madnani
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