Stocks To Watch: 4 Top Largecap Banking Stocks Hit Fresh 52-Week Highs Today

Sensex and Nifty are showing strong performances today, aided by bullish banking stocks this week. Here, the top four large-cap PSU bank and private banks have been mentioned, hit fresh 52-week highs today. Brokerage says buy stock, check for investment.

IDFC First Bank Limited

The Current Market Price (CMP) of IDFC First Bank stood at Rs. 56.05, gaining by 0.54% intra day. This stock has surged by 9.69% in the last 1 month, in the past 6 months surged by 37.38%, and surged by 10.01% in the past 1 year, amid volatility. However, according to data available with NSE, in Q1 FY23, the company's total income gained to Rs. 5,77,735 lakh, as against Rs. 5,38,488 lakh in the previous quarter. The bank reported a net profit of Rs. 47,433 lakh in Q1 FY23, as against Rs. 34,273 lakh in Q4 FY22. Motilal Oswal given a buy rating to the stock for 29% possible upside with Rs. 70 target price.

Indian Bank

The Current Market Price (CMP) of Indian Bank stood at Rs. 208.85, gaining by 2.15% intra day. This stock has surged by 2.43% in the last 1 month, in the past 6 months surged by 27.82%, and surged by 21.81% in the past 1 year, amid volatility. However, according to data available with NSE, in Q4 FY22, the company's total income stood at Rs. 11,40,517 lakh, as against Rs. 11,48,180 lakh in the previous quarter. The bank reported a net profit of Rs. 98,425 lakh in Q4 FY22, as against Rs. 68,973 lakh in Q3 FY22.

Federal Bank Limited

The Current Market Price (CMP) of Federal Bank stood at Rs. 133.30, gaining by 1.37% intra day. This stock has surged by 8.73% in the last 1 month, in the past 6 months surged by 37.49%, and surged by 39.87% in the past 1 year, amid volatility. However, according to data available with NSE, in Q2 FY23, the company's total income gained to Rs. 4,63,030 lakh, as against Rs. 3,94,824 lakh in the previous quarter. The bank reported a net profit of Rs. 70,371 lakh in Q2 FY23, as against Rs. 54,054 lakh in Q1 FY23.

City Union Bank Limited

The Current Market Price (CMP) of City Union Bank stood at Rs. 192.60, falling by only 0.26% intra day. This stock has surged by 6.94% in the last 1 month, in the past 6 months surged by 41%, and surged by 12.63% in the past 1 year, amid volatility. However, according to data available with NSE, in Q1 FY23, the company's total income gained to Rs. 1,31,697.67 lakh, as against Rs. 1,25,287.31 lakh in the previous quarter. The bank reported a net profit of Rs. 22,514.39 lakh in Q1 FY23, as against Rs. 20,895.69 lakh in Q4 FY22.

Disclaimer

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