Bank Stocks Outlook for the week – 23 to 27.06.2014
(www.rupeedesk.in)
(www.rupeedesk.in)
Bank stocks are likely to be volatile next week due to
expiry of the Nifty June futures
and options contract on Thursday. Bank stocks will largely
move in tandem with the
market, which will take cues from developments in Iraq.
Comments from the finance
ministry on the upcoming Budget will also be keenly tracked.Going
ahead, we see the monsoon progress and the Budget to be the two most important
triggers for the markets. We feel that, a progressive budget
as well as other reform
initiatives will likely lead to continued outperformance of
Indian indices v/s emerging
market peers. Among stock specific, shares of State Bank of
Travancore will be in focus
on Monday. Post market hours yesterday, the bank informed
exchanges that its board
Has decided to cut the size of the rights issue of equity
share to 4.85 bln rupees from 6.29
bln rupees approved earlier.
Next week, banks such ING Vysya Bank, Bank of Baroda,
Allahabad Bank, Bank of
Maharashtra, Axis Bank, IndusInd Bank, and Corporation Bank,
among others will be in
focus, as investors will eye the outcome of their annual
general meetings.HDFC Bank,
which will hold its AGM on Wednesday, will also be in the
spotlight as investors will
keenly await comments on the bank's pending proposal of
raising foreign shareholding.
