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Buy 3 Banking Stocks Offering Up To 40% Return As Recommended By IDBI Capital
IDBI Capital has recommended investors to buy 3 banking stocks namely ICICI Bank, IndusInd Bank, and Axis Bank. The brokerage expects that the three banking stock have the potential to rally up to 40%. Check key details below:
1. Buy ICICI Bank
The analyst has recommended investors to buy ICICI Bank and assigned a target price of Rs 1260 apiece. If you buy ICICI Bank shares now, you will get potential 40% upside. The current market price of the large cap bank is Rs 897 apiece with an intraday decline of 0.39%.
The bank has a market capitalisation of Rs 6,26,158.07 crore. The banking stock has given multibagger returns to investors with last 5-years return at 186%, last 3-years return at 64%, and last 1-year return at 22%. The shares have rallied 6% in last 3-months.
It declared its consolidated total income for the quarter ended September 30, 2022 at Rs 45,178 crore, up 15%.
ICICI banks has digitized their total credit card journey leading to reduced processing time for existing (30 seconds) and NTB Customers (30 mins). Around 36% of the payment journey (credit cards) completes within 30 mins. ICICI Bank has been leveraging technology to provide instant credit to customers for disputes relating to credit cards and other issues.
2. Buy IndusInd Bank
IDBI Capital has suggested investors to buy IndusInd Bank shares with a target price of Rs 1450 apiece. If you buy the stock at the current market price of Rs 1211 apiece, you will get potential 20% return.
The stock's 52-week high is Rs 1275 apiece and 52-week low is Rs 763 apiece, respectively. The company has a market capitalisation of Rs 93,906.64 crore. The bank has given return of 42% in last 1-year and declined 20% in last 3-years.
The banking company for the quarter ended September 30, 2022 declared consolidated total income of Rs 10,719 crore, up 5.99%.
3. Buy Axis Bank
The analyst has suggested investors to buy Axis Bank with a target price of Rs 1120 apiece. The current market price of the bank is Rs 933 apiece.
If you buy Axis Bank shares now, you will get potential 20% return. The company has a market capitalisation of Rs 2,86,879.94 crore. The stock's 52-week high is Rs 958 apiece and 52-week low is Rs 618 apiece, respectively.
The company has a market capitalisation of Rs 2,86,879.94 crore.
The shares have soared 71% in last 5-years, 23% in last 3-years, and 38% in last 1-year.
Disclaimer
The stocks have been picked from the brokerage report of IDBI Capital. 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.
