4 Bank Stocks On A Buy Call For Gains Up To 23% In Short Term: ICICI Direct

Leading brokerage firm ICICI Direct has given buy rating to four leading banking stocks namely IDFC First Bank, City Union Bank, State Bank Of India, and Axis Bank. The brokerage firm has given a time period of 1 year for the stocks to achieve the desired target price. Check below for more details:

IDFC First Bank

ICICI Direct has given buy call to IDFC First Bank for a target price of Rs 60 apiece with a potential gain of 13.64%. The brokerage has given a target time of 1 year for the stock to reach the specified target price. The current market price of the stock is Rs 52.80 apiece. The stock gained 3.73% intraday. The stock's 52-week high is Rs 53.75 apiece and 52-week low is Rs 28.95 apiece, respectively.

5-Years Return: The stock has fallen by 12% in the last 5 years, gained 24% in last 3 years, and 8% in last 1 year. The stock has touched a new 52-week high today when it touched the intraday high of Rs 53.75 apiece.

About The Company: It came into existence in the year 2014 and has a market capitalization of Rs 32,843 crore.

State Bank of India

The analyst has given a buy rating to the stock of SBI for a target price of Rs 650 apiece with a potential gain of 14% in 1-year target time. The current market price of the stock is Rs 572 apiece with a 52-week high of Rs 578 apiece and 52-week low of Rs 425 apiece, respectively. The company has a market capitalization of Rs 5,10,621.66 crore.

5-Years Return: The stock has given a return of 110% in the last 5 years, 96% in last 3 years, and 28% in last 1 year.

About The Company: The bank company came into existence in 1955. For the quarter ended June 30, 2022, SBI has announced a consolidated total income of Rs 94,524.30 crore, down 12.51% from last quarter total income of Rs 108,034.68 crore. The bank declared net profit after tax of Rs 7,325.11 Crore in latest quarter.

Axis Bank

ICICI Direct has assigned buy rating to the stock of Axis Bank Ltd for a target price of Rs 970 apiece with a potential gain of 23% in a target time of 1 year. The current market price of the stock is Rs 789 apiece with a 52-week high of Rs 866 apiece and 52-week low of Rs 618 apiece, respectively.

5-Years Return: The stock has given a return of 53% in last 5 years, 17% in last 3 years, and fallen by 0.18% in 1 year. For the quarter ended June 30, 2022, it has announced a consolidated total income of Rs 22,686.46 crore, down 1.37% from last quarter total income of Rs 23,000.69 crore. It reported net profit after tax of Rs 4,380.59 crore in latest quarter.

About The Company: The bank was incorporated in 1993 and has a market capitalization of Rs 2,42,587.45 crore.

City Union Bank

ICICI Direct has rated the stock and assigned buy call with a target price of Rs 215 apiece with a potential gain of 18% in a target time of 1 year. The current market price of the stock is Rs 182 apiece with a 52-week high of Rs 191 apiece and a 52-week low of Rs 108 apiece, respectively. The banking company has a market capitalization of Rs 13,527 crore.

5-Years Return: The stock has given a return of 21% in last 5 years, fallen 8% in last 3 years, and given return of 17% in last 1 year.

About The Company: City Union Bank came into existence in 1904. For the quarter ended June 30, 2022, it announced a standalone total income of Rs 1,316.98 crore, up 5.12% from last quarter total income of Rs 1,252.87. It has declared a net profit after tax of Rs 225.14 crore in latest quarter.

 

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.