From SBI to HDFC Bank, what should investors do with bank stocks post-election results? Here's what Bernstein says
Bank stocks in India: Should you buy, sell or hold HDFC Bank, SBI, ICICI Bank, Axis Bank? Global brokerage Bernstein does not think a wholesale policy change is likely post-Lok Sabha Election results. The brokerage in its latest report stated that an increase in populist measures (loan waivers) would be a negative for PSU banks. According to the analysts at the brokerage sudden reversal in corporate credit growth is highly unlikely in the near term.
From SBI to HDFC Bank, check out the latest revised targets on these bank stocks:
SBI share price target
![SBI share price target SBI share price target](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297639-s.jpg)
ICICI Bank share price target
![ICICI Bank share price target ICICI Bank share price target](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297640-buy-sell.jpg)
Axis Bank share price target
![Axis Bank share price target Axis Bank share price target](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297641-untitled-design-64.jpg)
HDFC Bank share price target
![HDFC Bank share price target HDFC Bank share price target](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297642-stocks-in-news-today-nse-bse-target.jpg)
Kotak Mahindra share price target
![Kotak Mahindra share price target Kotak Mahindra share price target](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297643-stock-market-chart-technology-vector-blue-background53876-112168.jpg)
Bernstein retains its earlier target on Nifty for year end
![Bernstein retains its earlier target on Nifty for year end Bernstein retains its earlier target on Nifty for year end](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297691-stocks-in-news-today-nse-bse-target.jpg)
In addition, amid this backdrop global brokerage Bernstein has retained its Nifty forecast for the year-end at 23,500, expecting high single-digit return. Importantly as the election results did not aligned with exit polls, Nifty had a worst session in four years tumbling by as much as 6 per cent to 21,884.5 points. This could translate into a potential upside of over 7 per cent from the last close.
![](https://cdn.zeebiz.com/sites/default/files/2024/06/05/297692-stock-market-chart-technology-vector-blue-background53876-112168.jpg)
The brokerage noted that before the elections, the ruling government showcased a progrowth, investment-focused manifesto. Even if it is pushed to tweak some of its policies, there is not expected any material risks to the capex cycle. This is as more and more of it shall be driven by the private sector as end markets are changing and the role of the centre shall reduce over time. Read more