3 Bank Stocks, To Buy In July As Recommended By Angel One As Banking Stocks See High Demand

Banking stocks have gained ground and in fact have overperformed the headline indices this week, there is seen both better traction in these stocks and better outlook going ahead as structural deficiencies in the framework seem far behind.

Likewise, Angel One in its Top picks for July month have recommended 3 banking stocks to buy. Before we go on to mention those it is to be noted that these picks are based on the fundamentals. Further the brokerage goes on to state that, "Although the near-term outlook will be weighed down by the high volatility levels, the Indian markets are well placed from a longer-term perspective. The valuations are at much more reasonable levels compared to the end of 2021and the global demand slow- down led softening of commodity prices in the near future would aid India Inc's profitability. We believe rural demand has bottomed out and expect healthy demand recovery on the back of a normal monsoon and improvement in agriculture prospects. The longer-term themes of recovery in private capex and improvement in credit growth remain intact".

Here are the 3 banking stocks to buy

Banking stocks	Current price	Target price	Upside
Federal Bank	97.5	120	23%
HDFC Bank	1397.1	1700	22%
AU Small Finance Bank	582.05	848	46%

The stocks are recommended by the brokerage and investors should due to their own due diligence before considering them to buy.