SBI, HDFC Bank, ICICI Bank, LIC Housing Finance, Bandhan Bank among 12 financial stocks Macquire revises stance on
As the Dalal Street participants gear up for yet another trading session, global brokerage Macquire has revised its stance on some financial stocks. Here is a list of banks and Non-Banking Financial Companies (NBFC) brokerage recommended.
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Macquire on Banks and NBFCs
Macquire on Banks and NBFCs:
As per the brokerage, private banks are at attractive valuations and expect them to report 16-18 per cent return on equity (ROE) over the next couple of years. Further, Macquire suggests staying away from PSU banks and Fintechs owing to regulations, declining fundamentals, and/or unfavourable risk-reward.
Kotak Mahindra Bank
Kotak Mahindra Bank:
It upgraded Kotak Mahindra Bank stock to 'outperform' and raised the target to Rs 2,025 from Rs 1,860 apiece.
SBI
State Bank of India (SBI):
The brokerage downgraded SBI to 'underperform' and cut the target to Rs 665 from Rs 615 apiece.
Bajaj Finance
Bajaj Finance:
By downgrading the rating to 'underperform' the brokerage cut target on Bajaj Finance to Rs 6,600 from Rs 8,100 apiece.
Cholamandalam Finance
Cholamandalam Finance:
The brokerage downgraded to 'underperform' and cut target to Rs 1,125 from Rs 1,140 apiece.
Bandhan Bank
Bandhan Bank:
The brokerage upgraded Bandhan Bank stock to 'outperform' and raised the target to Rs 240 from Rs 225 apiece.
City Union Bank
City Union Bank:
Macquarie upgraded City Union Bank to 'outperform' and raised the target to Rs 180 from Rs 160 apiece.
HDFC Bank
HDFC Bank:
The brokerage maintained an 'outperform' rating on HDFC Bank and cut target to Rs 1,825 from Rs 2,000 apiece.
LIC Housing Finance
LIC Housing Finance:
The brokerage iterated 'outperform' and raised the target to Rs 875 from Rs 650 apiece.
Shriram Finance
Shriram Finance:
Macquarie maintained 'outperform' on Shriram Finance and raised the target to Rs 3,150 from Rs 2,340 apiece.
ICICI Bank
ICICI Bank:
The brokerage continued with 'outperform' on ICICI Bank and raised the target to Rs 1,300 from Rs 1,190 apiece
IndusInd Bank
IndusInd Bank:
Macquarie maintained an 'outperform' rating on IndusInd Bank and cut the target to Rs 1,715 from Rs 1,900 apiece.
M&M Finance
M&M Finance:
On M&M Finance, the brokerage downgraded to 'underperform' and cut the target to Rs 250 from Rs 275 apiece.