Here Is Sunny Agrawal Of SBI Securities Analysis On The Three Banks: IDBI Bank, HDFC Bank, And ICICI Bank.
Sunny Agrawal Of SBI Securities Analysis On The Three Banks: Sunny Agrawal, Deputy VP and Head of Fundamental Equity Research at SBI Securities gave investors trading advice for August, advising them to concentrate on specific stocks rather than the more broad indices.
According to Agrawal, who spoke to BT TV on Monday, lenders are the foundation of any economy, and if we are on track to develop at a real GDP (gross domestic product) rate of 7-8%, banks credit will at least increase by 10–12%, assuming a 1.4–1.5 multiplier effect.
He chose HDFC Bank, ICICI Bank, and Axis Bank as his private banking partners. He stated that while there may be some uncertainty surrounding the merger for HDFC, the lender now provides a respectable value. “After the June quarter data, ICICI Bank and Axis Bank adjusted. Accordingly, one can anticipate returns of up to 15% in ICICI Bank and Axis Bank,” he continued.
Agrawal claimed that Bank of Baroda and Canara Bank currently hold a lot of value in the PSU (Public sector unit) banking sector.
In terms of values, we also prefer semi-PSU IDBI Bank. In the past two to three years, its asset quality has dramatically increased. He stated how all of the operational measures, including NIM (Net interest margin), CASA (Current account savings account), and ROA (Return on Asset), had increased.
The business analyst added that the automotive and related industries are experiencing a significant recovery.
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Maruti Suzuki India, Ashok Leyland, Eicher Motors, and TVS Motors were among his top picks in the automotive industry. RK Forging, Gabriel India, and Bosch were Agrawal’s top wagers in the auto auxiliary sector.
His other top picks included PNC Infratech, RVNL, RailTel, Ambuja Cement, and UltraTech Cement.
Indian equities indexes began lower Thursday, following the lead of the international markets. As the Nifty Midcap 100 dropped 1.32 percent and the small-cap index sank 1.80 percent, mid- and small-cap equities were lower. Asian markets are currently having trouble on the global front.
Investors at home will be closely observing retail inflation data, which is due later today, for clues during this week-long holiday break as the earnings season comes to an end. The reporting of quarterly results by consumer powerhouse ITC and many other corporations today will likely mark the end of the corporate earnings season.
The National Stock Exchange’s 15 sector indices were all trading in the negative. The NSE platform was outperformed by the sub-indices Nifty Metal, Nifty Bank, Nifty Financial Services, Nifty Auto, and Nifty Consumer Durables, which saw declines of up to 2.39 percent, 0.82 percent, 0.97 percent, 1.37 percent, and 1.06 percent, respectively.
Adani Enterprises was the worst-performing stock in the Nifty group on a stock-by-stock basis, falling 4.25 percent to close at Rs 2,431.50. Adani Ports too had a 3.22 decline when Deloitte quit as auditor. Additionally, up to 2.74 percent was lost by Apollo Hospitals, JSW Steel, and Tata Motors.
In contrast, the biggest gainers included ONGC, Dr. Reddy’s, Infosys, Sun Pharma, and Hindustan Unilever.
On the BSE, 1,970 shares were in decline while 1,009 were in advance, resulting in a negative overall market breadth.
Among the top losers on the 30-share BSE index were HDFC Bank, SBI, Tata Consultancy Services (TCS), Tata Motors, ITC, Bajaj Finance, and Bajaj Finserv.
Additionally, up to 9.96% was lost by Carysil Ltd., PNC Infratech, Nykaa, MSTC, Muthoot Finance, Finolex Cables, and Tarsons Products. DB Realty, PTC Industries, Kirloskar Oil Engines, and GRSE, on the other hand, all saw increases of up to 8.06 percent.
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