Yes Bank, PNB to IDFC First Bank: Experts bullish on these below ₹100 stocks. Should you buy?
After rise in Bank Nifty index by over 21 per cent in 2022, retail investors are in limbo whether rally in banking stocks will continue or its time to book profit and look at other theme for next year. However, if we go with market experts' views, rally in mid-sized PSU bank stocks and tech-enabled lenders in private space may continue in 2023 as well. They said that due to government of India's initiative to tackle bad loans, banks are expected to deliver strong quarterly numbers for medium to long term and PSU banks are expected to match private banks in banking business. Stock market experts further added that ease in dollar index has made overseas loan dearer for big corporates and hence such corporates are coming back to Indian banking system for credit line. This is also going to aide PSU banking stocks in medium to long term. However, in private segment, those banks who have focussed in tech-enabled lending are going to score over its peers and banks like Axis Bank, ICICI Bank, HDFC Bank and IDFC First Bank are expected to benefit from such emerging business model in India. For retail investors who are looking to cash-in the opportunities available in the banking space but have limited money for investing, experts recommended mid-sized PSU and private bank stocks to buy. They said that Yes Bank, PNB, IDFC First Bank, Bank of Baroda, etc. shares to buy. Source - MINT