Bank Sector Weekly Report – 13.11.2017 To 17.11.2017
Bank Sector Weekly Report – 13.11.2017 To 17.11.2017
Bank stocks are seen consolidating in the coming week, with stock-specific movements, now that most banks have declared their earnings for the September quarter. Any announcement on the rollout of recapitalisation bonds and news on their structure is expected to lend direction.
With private banks reporting strong loan growth and largely stable margins for the September quarter and remain positive on such banks in the coming week. Stocks of State Bank of India rose as much as 5% on yesterday after the lender said its slippage ratio fell to 1.85% in Jul-Sep from 5.38%
the previous quarter. The stock ended up 6.3%, the top gainer on the Nifty 50 index. Investors took
positions in the BankNifty index at 25100-25200 levels, which provided further momentum to the
index.
Bank of Baroda, United Bank, Punjab & Sind Bank, and Corporation Bank will detail their earnings for Jul-Sep next week. Updates will also be expected from Gyan Sangam, a two-day bankers' retreat that kicked off last day, with top bankers in attendance. Bank credit, non-performing assets, inclusion of micro, small and medium enterprises, and bank consolidation are some of the subjects up for discussion. The meeting will also be eyed for any news about the modalities of recapitalisation bonds, along with the demands of individual banks.
Source : Cogencis Information Services Ltd.
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Bank Sector Weekly Report – 13.11.2017 To 17.11.2017
Bank stocks are seen consolidating in the coming week, with stock-specific movements, now that most banks have declared their earnings for the September quarter. Any announcement on the rollout of recapitalisation bonds and news on their structure is expected to lend direction.
With private banks reporting strong loan growth and largely stable margins for the September quarter and remain positive on such banks in the coming week. Stocks of State Bank of India rose as much as 5% on yesterday after the lender said its slippage ratio fell to 1.85% in Jul-Sep from 5.38%
the previous quarter. The stock ended up 6.3%, the top gainer on the Nifty 50 index. Investors took
positions in the BankNifty index at 25100-25200 levels, which provided further momentum to the
index.
Bank of Baroda, United Bank, Punjab & Sind Bank, and Corporation Bank will detail their earnings for Jul-Sep next week. Updates will also be expected from Gyan Sangam, a two-day bankers' retreat that kicked off last day, with top bankers in attendance. Bank credit, non-performing assets, inclusion of micro, small and medium enterprises, and bank consolidation are some of the subjects up for discussion. The meeting will also be eyed for any news about the modalities of recapitalisation bonds, along with the demands of individual banks.
Source : Cogencis Information Services Ltd.
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