Banking sector is the backbone of the economy which also goes through its phases of ups and downs. When the economy is on track, there is a boom in lending and lending resulting in healthy growth in banks. After witnessing a sharp drop in business activity last year due to the covid-induced-lockdown, the banking industry is returning to normalisation. Analysts expect the industry to show continued strength. Most of the banks have seen significant improvement in storage capacity after June and storage capacity is back to normal by mid-August. Bank stock has been one of the best trades of 2021.
so what are the best banking stock To buy in India? According to experts, SBI is some of the best picks including HDFC Bank, ICICI Bank, IndusInd Bank, Axis Bank.
Let’s take a look at the top bank stocks recommended by industry experts
Jyoti Roy – DVP- Equity Strategist, Angel One Limited’s top picks are HDFC Bank and Federal Bank
“We maintain our positive outlook on the banking sector. In the large-cap banking space, HDFC Bank is our top pick with a target price of Rs 1,859, while in the mid-cap banking space, Federal Bank is our top pick with a price target of Rs. ₹110.”
Sonam Srivastava, Founder, Wright Research’s top picks are:
ICICI Bank
HDFC bank
State Bank Of India
IndusInd Bank –
csb bank
“The banking sector has witnessed a growth of 21.25% in the last 6 months led by PSU banking giant SBI. In an encouraging economic environment, the credit book of retail banks is growing strongly with strong growth in housing, auto, personal and consumer loans, which will continue to grow during the festive season.”
Divam Sharma, Co-Founder, Green Portfolio, SEBI Registered Portfolio Management Services
we like
HDFC bank
Kotakbank
indusind bank
axis Bank
“The performance of banks is directly linked to the performance of the economy. We are confident that there will be more business for banks and NBFCs post Covid recovery. Most of the banks will do well as compared to the performance of the last 2-3 years. We will see NPAs coming down as more and more resolutions and recovery take place,” Diwam Sharma said.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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