Stocks To Buy/Sell, Oct 31: PL Recommends Buy To PSU Bank Stock, Sell To NBFC Stock

Prabhudas Lilladher has assigned buy and sell call to two stocks from bank and NBFC sectors. These two stocks are Canara Bank (buy call) and Bajaj Finance (sell call). Check details below:

1. Buy Canara Bank Shares: Prabhudas Lilladher has assigned buy call to the leading Bangalore based PSU Canara Bank with target price of Rs 390 per share. PL has asked investors to keep the stop loss at Rs 380 apiece. Current market price of Canara Bank stock on BSE is Rs 386.80 per share, respectively. Its market capitalisation is Rs 70,170.56 crore. Canara Bank shares gained 33% in last 1-year and soared 348% in last 3-years. Its 52-week high price is Rs 390.55 per share and 52-week low price is Rs 268.85 per share, respectively.

Canara Bank Q2: The bank's net interest income soared 19.76% to Rs 8903 crore as net interest margin (NIM) bettered to 3.02%, indicating a surge of 19 basis points. The bank also cut its cost-to-income ratio by 53 basis points, that stood at 43.68%, as per the BSE filing. Canara Bank's retail credit reported a growth of 10.56% as housing loans expanded at 12.32% rate. Education loans and vehicle loans also witnessed growth of 14.68% and 9.29%. On the business front, total loans rose 4% QoQ (up 12% YoY), led by both corporate (up 3% QoQ) and RAM segments (up 5% QoQ). Agri book grew ~6.4% QoQ, while Retail and MSME grew ~4% QoQ each.

2. Sell Bajaj Finance Shares: The analyst has assigned sell call to Bajaj Finance Limited with target price of Rs 7200 per share. The analyst has asked investors to keep stop loss at Rs 7550 apiece. Current market price of Bajaj Finance on BSE is Rs 7521.55 per share. Its market capitalisation is Rs 4,55,529.93 crore. Its 52-week high price is Rs 8190.00 per share and 52-week low price is Rs 5487.25 per share, respectively. Bajaj Finance shares declined over 7% in last weeks. In last 1-year, Bajaj Finance stock offered 5% return and soared 127% in last 3-years.

Disclaimer

The stocks have been picked from the brokerage report of Prabhudas Lilladher. 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.