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ā¢ Top banking names, including State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, and Kotak Mahindra Bank, have seen a surge in share prices in the past week due to hopes of a stable government in the upcoming 2024 elections.
ā¢ However, analysts at Macquarie warn of a potential slowdown in loan growth and margin pressure in the medium-term.
ā¢ Macquarie has a 'neutral' rating on Axis Bank, an 'outperform' rating on HDFC Bank, and an 'outperform' rating on SBI.