Buy 2 Quality Bank Stocks To Get Positive Returns As Suggested By Axis Securities

Axis Securities has recommended investors to buy 2 bank stocks showing potential to soar. These 2 bank stocks are ICICI Bank and Equitas Small Finance Bank Ltd. The analyst has assigned buy call Equitas Small Finance Bank with target price of Rs 78 apiece and to ICICI Bank with a target price of Rs 944 apiece, respectively. Check details below:

1. Buy Equitas Small Finance Bank: Axis Securities has maintained bullish view on the stock and maintained buy call with target price of Rs 78 apiece. Current market price of Equitas Small Finance Bank is Rs 68.34 apiece with intraday gain of 1.89%. If you buy Equitas Small Finance Bank share now, you can get potential return of 15%.

The analyst has upgraded the target price of the stock from the previous Rs 70 apiece to Rs 78 apiece. Its 52-week high price is Rs 77.87 apiece and 52-week low price is Rs 37.50 apiece, respectively. It gave return of 39% in last 6-months, 30% in last 1-year, and 10% in last 2-years. Its market cap stands at Rs 7,589.55 crore.

According to Axis Securities, "The continuation of the current MD-CEO in office for the foreseeable future and the successful completion of the reverse merger removes the major overhangs on the stock's performance. We reiterate our buy recommendation on the stock and value EQSFB at 1.5x Sep'24E ABV to arrive at a revised target price of Rs 78/share, implying an upside of 15% from the CMP."

2. Buy ICICI Bank: Current market price of ICICI Bank is Rs 884.25 apiece with intraday dip of 0.80%. Axis Securities has maintained buy recommendation with target price of Rs 944 apiece. If you buy ICICI Bank shares now, you can get potential upside of 7%. The analyst has given a target time of 3 to 4 weeks when the stock will reach the defined target price of Rs 944 apiece. Axis Securities has urged to keep the stop loss at Rs 840 apiece.

The stock's 52-week high is Rs 958.00 apiece and 52-week low price is Rs 670.35 apiece, respectively. Its market cap is Rs 6,17,455.48 crore. It gave return of 20% in last 1-year, 48% in last 2-years, and 208% in last 3-years.

Disclaimer: The stocks have been picked from the brokerage report of Axis Securities. 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.