The brokerage firm HDFC Securities has given an eye on the banking space and has picked up Axis Bank for a target price of Rs 1,021, Bandhan Bank for a target price of Rs 406, City Union Bank for a target price of Rs 213, Federal Bank for a target price of Rs 126, ICICI Bank for a target price of Rs 1,001 as its top picks with a buy rating. Whereas, Cholamandalam Investment and Fin Co (CIFC) for a target price of Rs 774, CreditAccess Gr for a target price of Rs 994, and SBI Card with a target price of Rs 1,255 are the brokerage's top selections in the NBFC and HFC sector, with a buy rating ahead of Q4FY22E results.
| Banks | Recommendation | Target Price in Rs |
|---|---|---|
| AU Small Finance Bank | REDUCE | 1,264 |
| Axis Bank | BUY | 1,021 |
| Bandhan Bank | BUY | 406 |
| City Union Bank | BUY | 213 |
| DCB Bank | ADD | 131 |
| Federal Bank | BUY | 126 |
| ICICI Bank | BUY | 1,001 |
| IndusInd Bank | REDUCE | 968 |
| Kotak Mahindra Bank | REDUCE | 2,155 |
| Karur Vysya Bank | ADD | 58 |
| RBL Bank | REDUCE | 160 |
| Ujjivan Small Finance Bank | REDUCE | 21 |
| NBFCs and HFCs | Recommendation | Target Price in Rs |
| Bajaj Finance | REDUCE | 6,413 |
| Cholamandalam Investment and Fin Co Ltd | BUY | 774 |
| CreditAccess Grameen Ltd | BUY | 994 |
| IndoStar Capital Finance Ltd | REDUCE | 229 |
| LIC Housing Finance Limited | REDUCE | 409 |
| Mahindra & Mahindra Financial Services Ltd | ADD | 207 |
| Repco Home Finance Ltd | ADD | 290 |
| SBI CARD | BUY | 1,255 |
| Shriram Transport Finance Co Ltd | ADD | 1,641 |
| Ujjivan Financial Services Ltd | ADD | 201 |
| Source: hdfcsec.com. Data as of 14 April 2022 |
Disclaimer- Investing in stocks is risky and investors need to be cautious. Neither Brokerage nor the author would be responsible for any losses incurred based on decisions made from the article. Please consult a professional advisor and avoid investing lumpsum amounts.
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