Shares of Yes Bank vs Kotak Mahindra Bank vs ICICI Bank: After the announcement of strong Q1 results of Yes Bank, Kotak Mahindra Bank and ICICI Bank on Saturday, strong buying interest is expected in these private players. According to Share Market According to experts, Nifty Bank index has registered a rise of around 6 per cent in the last week’s session and after strong Q1 earnings, the rally in Bank Nifty index is expected to continue further. He said all three banks are expected to attract the attention of the bulls, however, ICICI Bank and Kotak Mahindra Bank may attract more buyers than Yes Bank.
After ICICI Bank’s strong Q1FY23 results, Jefferies raises its long-term target from 1070 1080 per share whereas the share price of ICICI Bank today is around 800 per share. Hence, the global brokerage is expecting a 35 per cent rally in banking stocks after strong Q1 earnings.
Giving ‘Buy’ tag to Kotak Mahindra Bank shares, Anand Dama, Senior Research Analyst, Emkay Global Financial Services said, “We expect the bank to deliver 2-2.1% ROA with rapid growth and low LLP, with ROE of approx. 13-14% in FY23-25E due to its higher capital levels.” He advised the positional investors to buy Kotak Mahindra Bank with a target price of 2180 each level.
to speak on Shares of Yes Bank vs Kotak Mahindra Bank vs ICICI BankRavi Singhal, CEO, GCL Securities said, “All three banks have delivered strong Q1 numbers, but in comparison to all these three private lenders, ICICI Bank looks more promising. With 50 per cent growth in standalone annualized profit and 21 per cent growth in earnings, ICICI Bank looks more promising. With advances, ICICI Bank shares are expected to outperform their peers over the long term.”
Speaking on Yes Bank share price outlook, Ravi Singhal of GCL Securities said, “Yes Bank shares have strong support 12.50 while the stock is placed on immediate support for 13.75 level. Stock may rally after giving above breakout Can go up to 16.20 levels each depending on completion 19 each level.”
Advising investors to prefer ICICI Bank and Kotak Mahindra Bank over Yes Bank, Sumeet Bagadia, Executive Director, Choice Broking said, “The shares of ICICI Bank and Kotak Mahindra Bank are looking to be in a better position and are positioning themselves as 5 per cent. Could give a return of -8 per cent. Shareholders in the near term.”
ICICI Bank reports nearly 50 percent increase in net profit 6,904.94 crore for the period April to June 2022, as against Rs 4,616.02 crore in Q1FY22. Private lender also reported net interest income 13,210.02 crore in Q1FY23, logging as against 20.8 percent 10,935.76 crore in Q1 FY2021-22.
Similarly, Kotak Mahindra Bank reported a net profit in the first quarter of the current financial year. 2,071.10 crore, about 26.10 percent more than its net profit 1,641.90 crore in the same quarter a year ago.
Similarly, Yes Bank reported nearly 50 per cent growth in net profit 311 crore in the recently ended June 2022 quarter. In its Q1 results announced on Saturday, Yes Bank also reported a growth of 9.67 per cent in total income, while its earnings grew by 13.47 per cent in the said quarter.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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