Banking Stocks: The trend of decline in the stock market continues. There is an atmosphere of nervousness in the market due to selling by foreign investors (FIIs) and uncertainty over America’s new trade policies. The weak quarterly results of domestic companies have also worried investors. Amidst this mood and environment in the market, brokerage firms have changed their investment strategy on banking stocks.
AU Small Finance Bank: Targets up to 23% upside
Brokerage firm HDFC Securities has maintained its rating on AU Small Finance Bank at REDUCE. However, the brokerage has reduced its target price on the stock to Rs 580.
Brokerage firm ICICI Securities has maintained its rating on AU Small Finance Bank at ‘Hold’. However, it has marginally reduced its rating on the stock to Rs 625. Earlier it was Rs 630. In this way, the stock can give an upside of up to 5% from the closing price of Friday (January 24). On Friday, the bank’s shares closed at Rs 594.
Brokerage firm Motilal Oswal has maintained BUY rating on AU Small Finance Bank. The brokerage has given a target price of Rs 730 on the stock. In this way, the stock may show an upside of up to 23% from the previous closing price (January 24).
IDFC First Bank: Targets up to 13% upside
Brokerage firm Centrum Broking has maintained its rating on IDFC First Bank at ‘REDUCE’. The brokerage has increased the target price on the stock from Rs 58 to Rs 61.
Brokerage firm Nuvama has maintained its rating on IDFC First Bank at ‘HOLD’. The brokerage has kept a target price of Rs 60 on the stock.
Apart from this, brokerage Motilal Oswal has maintained ‘Neutral’ rating on IDFC Bank. Also, a target price of Rs 70 has been given on the share. In this way, the stock can show an upside of 13% in the long term from the closing price of Friday (January 24). On Friday, the bank’s shares closed at Rs 62.
DCB Bank: Targets up to 40% upside
Brokerage firm HDFC Securities has maintained its rating on DCB Bank at ADD. The brokerage has kept a target price of Rs 140 on the stock. In this way, the stock can give an upside return of 23% in the long term from Friday’s closing price. DCB Bank shares closed at Rs 114 on Friday.
Brokerage firm ICICI Securities has maintained ‘BUY’ rating on DCB Bank. For this, the brokerage has given a target price of Rs 160 on the stock. In this way, from the closing price of Friday (January 24), the stock can give an upside return of 40% in future.
Brokerage Motilal Oswal has also given ‘BUY’ rating on DCB Bank. The brokerage has kept the target price for the bank at Rs 160. In this way, from the closing price of Friday (January 24), the stock can give an upside return of 40% in future. DCB Bank shares closed at Rs 114 on Friday.
SELL rating on Yes Bank
Brokerage firm ICICI Securities has given ‘SELL’ on private sector Yes Bank. The brokerage has reduced its target price on the stock from Rs 16 to Rs 15.