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4 Large Public Sector Banking Stocks To Buy, Listed By Emkay Global, Upto 4.1% Dividend Yield
Nifty PSU Bank index is marginally down today, stood at 2,588.45 points, falling by 0.47%, till last traded. Here stocks of 4 public sector banks have been discussed to buy, as recommended by top brokerage firm Emkay Global.
PSU Bank stocks to buy
The current market price of Bank of Baroda Ltd. is Rs. 99. Market capitalization of the bank is Rs. 510 bn. The brokerage firm is expecting an 11% Return on Equity (RoE) in FY 2023. The Bank's 52-week high share price is Rs. 122.70. The stock is offering a 2.73% dividend yield. Recently the bank stated, "The Investment Committee meeting of our bank is scheduled to be held on 16th July 2022 to finalize the quantum and timing of issuance of long term bonds for financing of infrastructure and affordable housing, out of the board approved limit of Rs. 5,000 crore." Raising capital by the bank is expected to hike its share price in the future, which will be able to offer high returns to the investors.
The current market price of Canara Bank Ltd. is Rs. 189. Market capitalization of the bank is Rs. 343 bn. The brokerage firm is expecting a 12.3% Return on Equity (RoE) in FY 2023. The Bank's 52-week high share price is Rs. 272.80. The stock is offering a 3.13% dividend yield. The stock has gained by 11.27% for the last five straight sessions. According to available reports, investor Jhunjhunwala maintained a 1.96% stake in the said Bank in June quarter, of this year.
The current market price of Indian Bank is Rs. 152. Market capitalization of the bank is Rs. 189 bn. The brokerage firm is expecting a 12.10% Return on Equity (RoE) in FY 2023. The Bank's 52-week high share price is Rs. 194.95. The stock is offering a 4.10% dividend yield. The bank's stock prices have surged by 5.32% in the past 5 days.
The current market price of SBI is Rs. 472. Market capitalization of the bank is Rs. 4,214 bn. The brokerage firm is expecting a 14.90% Return on Equity (RoE) in FY 2023. The Bank's 52-week high share price is Rs. 549. The stock is offering a 1.46% dividend yield. The bank's shares have gained by 4.02% in the past month, amid a bearish market environment.
Disclaimer
The above stock was picked from the brokerage report of Emkay Global. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
