5 Large Private Banks Stocks To Buy As Suggested By Emkay Global

The Indian equity market is quite volatile now; the Nifty Private Bank index is standing at around 17,565.60 points, gaining by 1.78, till last traded. Although the index has gained by 5.81% in the last 5 days, it has stayed bearish in the past 1 month. Reputed brokerage firm Emkay Global has suggested these 5 large private banks' stocks.

Private Banks Stocks To Buy

Emkay Global suggests buying the stocks of Axis Bank, HDFC Bank, ICICI Bank, INDUSIND Bank, and Kotak Mahindra Bank.

The current market price of AXIS Bank is Rs. 649. Market capitalization of the bank is Rs. 1,992 bn. The brokerage firm is expecting a 13.90% Return on Equity (RoE) in FY 2023. AXIS Bank's 52-week high share price is Rs. 866.90. According to recent reports, Axis Bank has signed an MoU with the Indian Air Force (IAF) to manage salary accounts of the defense personnel.

The current market price of HDFC Bank is Rs. 1,353. Market capitalization of the bank is Rs. 7,513 bn. The brokerage firm is expecting a 16.80% Return on Equity (RoE) in FY 2023. HDFC Bank's 52-week high share price is Rs. 1,725. Recently, the Reserve Bank of India (RBI) has given a 'no objection' nod to the merger of HDFC with HDFC Bank, which is expected to surge the share price of the stock.

The current market price of ICICI Bank is Rs. 719. Market capitalization of the bank is Rs. 5,004 bn. The brokerage firm is expecting a 15.80% Return on Equity (RoE) in FY 2023. ICICI Bank's 52-week high share price is Rs. 867.

The current market price of INDUSIND Bank is Rs. 824. Market capitalization of the bank is Rs. 639 bn. The brokerage firm is expecting a 13.4% Return on Equity (RoE) in FY 2023. INDUSIND Bank's 52-week high share price is Rs. 1,242. Reports inform that the bank has announced a strategic partnership with MoEngage for delivering a differentiated digital experience, which can boost its share price.

The current market price of Kotak Mahindra Bank is Rs. 1,663. Market capitalization of the bank is Rs. 3,301 bn. The brokerage firm is expecting a 12.70% Return on Equity (RoE) in FY 2023. Kotak Mahindra Bank's 52-week high share price is Rs. 2,253. The bank is holding a strong position as the RBI has hiked the interest rate, while the bank has one of the highest CASA ratios.

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.