Business

Expert advice: Shares of these 5 banks can give good returns in 6 months to 1 year

Highlights:

  • The following stocks can reach the target price in a period of six months to one year
  • According to brokerage firms, returns of 20-25 per cent can be given on these five bank stocks.
  • After the sell-off seen before Diwali, once again the market is seeing improvement.

state Bank of India. Purchase. Target Price: 624

ICICI Securities has a buy recommendation with a target price of Rs 624, which is currently trading around Rs 520. According to the brokerage firm, this stock can reach the target price in a year. Earlier, it had set a target price of Rs 571 for the stock, which it has increased to Rs 624. Shares of State Bank of India (SBI), which performed well in the September quarter, have had a positive impact in the recent past.

Federal Bank. Purchase. Target Rs. 124

HDFC Securities has asked to buy the stock with a target price of Rs 124. The stock is currently trading around Rs 100. According to the brokerage firm, Federal Bank shares can reach Rs 124 in six months, which is 24 per cent higher than the current price. The stock has seen a good rally in the last one month. Its stock was at Rs 86.25 on October 11 and Rs 103.90 on October 22. This was followed by a decline of two-three per cent in the week before Diwali. After that it again corrected and is currently trading around Rs.100.

HDFC. Purchase. Target Rs. 3550

ICICI Securities has given a buy tag to this NBFC. The brokerage firm believes that this stock can reach Rs 3,550 in a year. On November 08, there was a good rally in the stock. It was up 2.73 per cent at Rs 2,979 at market close.

IndusInd Bank. Purchase. Target Rs. 1420

ICICI Securities has a buy call on the stock with a target price of Rs 1,420. Recently, the bank’s shares had fallen up to 10 per cent on November 8 after allegations of irregularities in lending to the bank surfaced. However, analysts believe that the stock has good upside potential. According to the brokerage firm, the stock can touch Rs 1,420 in a year.

Au Small Finance. Purchase. Target Rs. 1375

Axis Securities has given buy tag to the shares of AU Small Finance Bank. The brokerage firm believes that the stock may reach the target price within a year. When the market closed today, the stock was trading at Rs 1,247.

Disclaimer: The information provided here is for informational purposes only. It is recommended to buy and sell shares by any brokerage firm with which IamGujarat.com has no transaction. Be sure to consult your financial advisor before making any investment.

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