Stocks to Buy-ICICI Bank, IndusInd Bank, and SBI – Top Stock Picks from Motilal Oswal Ahead of Q4 Results
Introduction
Motilal Oswal anticipates a slight decrease in NIM for ICICI Bank, Axis Bank, and Kotak Mahindra Bank, while they foresee steady NIMs for HDFC Bank, RBL Bank, SBI, IndusInd Bank, and Union Bank of India. AU Small Finance Bank is expected to see a notable decrease in NIMs.
Stocks to Buy-ICICI Bank, IndusInd Bank, and SBI:
In Q4FY24, the firm expects NII growth for its banking coverage universe to be 7.4% YoY and 2.9% QoQ (excluding HDFC Bank). They also predict earnings growth of 12% YoY for PSU banks and 14% for private banks (6% excluding HDFC Bank) for the same period.
ICICI Bank, IndusInd Bank, and SBI are highlighted as top picks in the banking sector by Motilal Oswal. ICICI Bank, with a target price of ₹1,250, is seen as transitioning into a growth leader in SME and Retail segments. IndusInd Bank, with a target price of ₹1,900, is noted for maintaining market share and anticipated healthy growth. SBI, with a target price of ₹860, is recognized for its steady loan growth and deposit base expansion.
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