76 stocks turned multibaggers since last Budget. Which sectors may benefit this time?
In the last Budget, which was pro-growth, Sitharaman had increased capex by 35%. Nifty had welcomed the Budget with great vigour and closed the Budget day session on a cheerful note, up 1.4%.
At the same time, interest income rose to Rs 4,627 crore as compared to Rs 3,919 crore in the same quarter a year ago.On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 5.63 per cent of gross advances as compared to 8 per cent at the end of the third quarter of 2021-22.
Kajal Gandhi's 3 top stock picks from PSU banking space
Frankly speaking yes, banks currently in the last year have outperformed. We should see credit bounce back continuing. We should definitely see all banks performing including other large cap private sector space and PSU banks.
Big Movers on D-St: What should investors do with UCO Bank, FACT and JK Paper?
Currently, it is in a short-term correction. The stock can find support near the 31 level. Long-term investors should keep holding their positions as long as it sustains above the major support level placed around Rs 22. On the higher side, 36 and then 44 levels can be seen.
Big Movers on D-St: What should investors do with FACT, UCO Bank and Shree Renuka Sugars?
The counter is making higher highs and higher lows. It has created a strong base in a cluster of the 20-and 50-day moving averages, and the RSI is also holding the 50-mark; therefore, we can expect the bullish momentum to continue.
ETMarkets Smart Talk: Up over 54% in a week, UCO Bank stock can continue to rise: Osho Krishan
The benchmark index Nifty has now sneaked below the key swing low of 18,350 on a closing basis. Ideally, looking at the price structure, the development does not augur well for bulls. A close below this support opens the possibility of an extended correction in the coming week
Keep 35-40% of your portfolio in banks and NBFCs: Dipan Mehta
I think that banks are in for a good time for the next two, three years or so. We heard what Mr Uday Kotak said that this is the Cinderella time for them and I completely agree with that. Rather since the pandemic I have not seen these kind of positive factors coming through all together for the banking industry ever.
Big Movers on D-St: What should investors do with UCO Bank, Bank of Maharashtra and IOB?
Stocks that were in focus include names like UCO Bank which was up over 14%, Bank of Maharashtra which gained over 4%, and IOB which was up more than 5% on Wednesday.
Nifty Bank hits fresh record high, crosses 44,000 mark for first time
“We expect this outperformance for banks and the tailwind for the sector to continue for 2023. In the short term, after yesterday's inflation print in the US, there is an expectation in some quarters that the US Fed might turn less hawkish in the upcoming policy, which will support the markets,” he added.
This PSU bank stock doubles in just one month. What’s driving the rally?
Morgan Stanley analysts said PSU banks should see relatively higher margin expansion compared to many private banks over F22-F24, reflecting a higher starting point of liquidity, sharp moderation in NPA formation, reducing interest income reversals and lower share of wholesale deposits relative to select private banks.
Big Movers on D-St: What should investors do with UCO Bank, Yes Bank and IOB?
Stocks that were in focus include names like UCO Bank which was up nearly 20%, Yes Bank which gained nearly 14%, and Indian Overseas Bank which closed with gains of nearly 15% on Tuesday.
Big Movers on D-St: What should investors do with Central Bank, UCO Bank and J&K Bank?
Here's what Akhilesh Jat, Category Manager - Equity Research, CapitalVia Global Research, recommends investors should do with these stocks when the market resumes trading today:
6 PSU bank stocks hit 52-week high post RBI MPC outcome
"A change in stance to dovish going forward by RBI will lead to rally in the banking segment while a prolonged hawkish stance will impact deposit rates and lead to narrowing NIMs, more so for PSBs," said Anil Rego, founder and fund manager at Right Horizons PMS.
Sandip Sabharwal on one stock that has the makings of a multibagger
“There is an anticipation of a significant slowdown in global economic growth next year and if that plays out, it is normally not so great for equities. Markets will become very selective and we need to buy the gainers of the commodity falls, avoid commodity sectors and avoid a lot of globally linked sectors also.”