Bank Stocks Outlook For The Week - 19 To 22.11.2018
Following the end of the Jul-Sep earnings season, stocks of banks are seen in a narrow range next week on lack of stock-specific cues. On a consolidated basis, banks reported a marginal profit as provisions for investments and credit costs remained high. Impaired loans declined for the second consecutive quarter giving greater confidence of improvement in 2HFY19 (Oct-Mar). We maintain our view on owning corporate banks like ICICI Bank and State Bank of India. The board meet of the Reserve Bank of India on Monday, is however, seen setting the tone for the overall sector. Amid the ongoing spat between the central bank and the government, the agenda of the meet is likely to include relaxation of prompt corrective action framework and capital norms for banks, and issues related to liquidity management, credit growth, and the use of the central bank's surplus.
Source : Cogencis Information Services Ltd.
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Following the end of the Jul-Sep earnings season, stocks of banks are seen in a narrow range next week on lack of stock-specific cues. On a consolidated basis, banks reported a marginal profit as provisions for investments and credit costs remained high. Impaired loans declined for the second consecutive quarter giving greater confidence of improvement in 2HFY19 (Oct-Mar). We maintain our view on owning corporate banks like ICICI Bank and State Bank of India. The board meet of the Reserve Bank of India on Monday, is however, seen setting the tone for the overall sector. Amid the ongoing spat between the central bank and the government, the agenda of the meet is likely to include relaxation of prompt corrective action framework and capital norms for banks, and issues related to liquidity management, credit growth, and the use of the central bank's surplus.
Source : Cogencis Information Services Ltd.
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