Bank Stocks Outlook for the week – 28.07.2014 to 01.08.2014
( www.rupeedesk.in )
( www.rupeedesk.in )
With no major macroeconomic data releases lined up, most of
the action in banking
stocks next week will be along Apr-Jun earnings of major
banks. However, expiry of
June Nifty futures and options contract on Thursday may
result in volatile movement in
bank stocks.
On Monday, investor sentiments are likely to be
hurt after the Reserve Bank
of India imposed penalties on 12 banks for violating the
norms under loan and current
accounts of the beleaguered-Deccan Chronicle Holdings, post
market hours yesterday.
Among the 12 banks, the RBI has imposed a highest penalty of
4 mln rupees on ICICI
Bank. Axis and IDBI Bank were fined 1.5 mln rupees each. A
penalty of 1 mln rupees
was levied on Andhra Bank, Canara Bank, Corporation Bank,
IndusInd Bank, Kotak
Mahindra Bank, State Bank of Hyderabad, and YES Bank.
Ratnakar Bank and HDFC
Bank were fined 500,000 rupees each.
ICICI Bank, Bank of Baroda, Karnataka Bank, Bank of India,
Syndicate Bank, Syndicate
Bank, and Dhanalaxmi Bank, among others will detail their
Apr-Jun earning next week. Most movement will be bank specific.
