Motilal Oswal Picks Top 5 Private, PSU Bank Stocks To Buy Offering Good Return

Motilal Oswal has recommended investors to buy 5 bank stocks for higher returns. These bank stocks are HDFC bank, ICICI Bank, Kotak Mahindra Bank, Canara Bank, SBI. Check key details below:

1. Buy HDFC Bank

The brokerage firm has assigned buy call to HDFC Bank with a target price of Rs 1900 apiece. The last trading price of the stock is Rs 1600 apiece. It has a market capitalisation of Rs 8,92,754.89 crore. If you buy HDFC Bank now, you will get 19% return.

The banking stock has rallied 15% in last 3-months only, 5% in last 1-year, and 24% in last 1-year.
The large cap bank on January 14 declared a 20% surge in YoY consolidate net profit for the quarter ended December 31, 2022 to Rs 12,698 crore.

Consolidated advances jumped 19.2% YpY to Rs 15.63 lakh crore for Q3 FY 2023 from Rs 13.12 lakh crore reported in Q3 FY 2022. Meanwhile, standalone net profit reported at Rs 12,259 crore, up 18.5% from same quarter of the corresponding year.

HDFC Bank on January 14 reported a 19.9 percent year-on-year (YoY) jump in its consolidated net profit for the quarter ended December 31, 2022 to Rs 12,698 crore.

2. Buy ICICI Bank

The brokerage firm has assigned buy call to ICICI Bank with a target price of Rs 1150 apiece. If you buy ICICI Bank at its last trading price of Rs 873 apiece, you will get 32% return.

The bank has a market capitalisation of Rs 6,09,305.82 crore. The stock has given a return of 2% in last 3-months, 6% in last 1-year, and 62% in last 3-years. The large cap banking stock has declined 6% in last 1-motnth.

3. Buy Kotak Mahindra Bank

The analyst has assigned a target price of Rs 2040 apiece to buy Kotak Mahindra Bank. The last trading price of the banking stock is Rs 1779 apiece. If you buy Kotak Mahindra at the last trading price, you will get a return of 15%.

It has a market capitalisation of Rs 3,53,503.38 crore. The stock has declined 7% in last 1-year, gained 3% in last 3-years, and given a return of 74% in last 5-years. It was incorporated in 1985.

4. Buy Canara Bank

Motilal Oswal has assigned a target price of Rs 380 to buy the PSU Bank stock. The last trading price of Canara Bank is Rs 324 apiece. If you buy Canara Bank at this price, you will get 17% return. The company has a market capitalisation of Rs 58,877 crore.

The banking stock has given a return of 45% in last 3-months, 44% in last 1-year, 50% in last 3-years, and 49% in last 6-months. It came into existence in 1906.

5. Buy SBI

The analyst has recommended investors to buy SBI Bank with a target price of Rs 725 apiece. If you buy SBI Bank now at the last trading price of Rs 600 apiece, you will get 21% return. The bank has a market capitalisation of Rs 5,35,521 crore.

The banking stock has given 15% return in last 3-months, 17% in last 1-year, 81% in last 3-years, and 23% in last 6-months. It was incorporated in 1955.

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 check with certified experts before taking any investment decision.