HDFC Bank, ICICI Bank Among 7 Private Banking Stocks To Buy That Can Rally Up To 33%: Motilal Oswal

Motilal Oswal in its March 2023 Result Preview report on Financial: Banks & Insurance sectors has come up with a "Buy" recommendation on 7 leading private sector banking stocks. These 7 stocks are Axis Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, and RBL Bank. Here are the key details about the stocks:

1. Axis Bank

• The brokerage assigns a "Buy" on stock with a target price of Rs 1,130/share.
• If you buy the stock at the current market price, it can fetch gains up to 33%.
• The stock last traded at Rs 851.95/share on NSE, down 0.99% from the previous close.
• The stock has given 10.21% positive return in 1 week, 162.01% in 3 years, and 70.47% in 5 years, respectively.

2. Federal Bank

• Motilal Oswal assigns a "Buy" on Federal Bank's stock with a target price of Rs 170/share.
• The stock can fetch up to 34% gains if purchased at the current market price.
• The last traded share price of the stock is Rs 127.05/share on NSE, down 1.17% from the previous close.
• It has given 27.95% positive return in 1 year, 218.42% in 3 years, and 30.64% in 5 years, respectively.

3. HDFC Bank

• The brokerage assigns "Buy" on stock with a target price of Rs 1930/share.
• It claims a potential upside of up to 16% from its current level if purchased at the current market price.
• On NSE, the stock last traded at Rs 1666.35/share, up 0.76% from the previous close.
• The stock has given 7.45% in the past year, 104.75% in 3 years and 73.27% in 5 years, respectively.

4. ICICI Bank

• Motilal Oswal assigns "Buy" on ICICI Bank's stock with a target price of Rs 1150/share.
• If you buy the stock at the current market price, it can fetch up to 32% gains.
• The last traded share price of the stock is Rs 875/share, down 1.09% from the previous closes.
• The stock gained 17.99% in 1 year. It has given 205.25% in 3 years and 211.78% in 5 years, respectively.

5. IDFC First Bank

• Motilal Oswal places a "Buy" on the stock with a target price of Rs 70/share.
• It claims a potential upside of up to 28% from the current level if the stock is purchased at the current market price.
• The stock's current market price is Rs 55.05/share on NSE, up 0.27% from the previous close.
• The stock gained 17.99% in the past 1 year. Whereas, in the past 3 years it gave 205.25% in 3 years, and 211.78% in 5 years, respectively.

6. IndusInd Bank

• Motilal Oswal estimated a target price of Rs 1450/share with a "Buy" call on the stock.
• The stock is likely to fetch up to 35% returns if purchased at the current market price.
• The stock's last trade price is Rs 1082/share on NSE, down 1.39% from the previous close.
• The stock has given 11.74% positive return in 1 year and a robust 245.47% in 3 years, respectively. However, in 5 years, it has given 40.68% negative return.

7. RBL Bank

• Motilal Oswal places a "Buy" on the stock with a target price of Rs 180/share.
• The brokerage sees a potential upside of 26% from its current level if purchased at the current market price.
• The stock last traded at Rs 143.65/share on NSE, up 2.0% from its current level.
• The stock has given 2.75% positive return in 1 year and 29.47% in 3 years, respectively. It has given 70.93% negative return in 5 years.

Disclaimer - The stocks have been picked from the brokerage report of Motilal Oswal. 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 consult with certified experts before making any investment decision.