Bank Stocks Outlook For The Week – 15 to 19.01.2018

Bank Stocks Outlook For The Week – 15 to 19.01.2018

             Equity Cash/Futures/Options Segment 

The shares of banks are seen steady with an upward bias in the coming week, led by positive sentiment in the broader markets after the benchmark indices ended at record closing highs for the fourth time this week. The Oct-Dec earnings of banks will be major cues for the sector. Federal Bank, YES Bank, HDFC Bank, Kotak Mahindra Bank and IDFC Bank are scheduled to report their Oct-Dec results in the coming week. IDFC Bank is also likely to be in focus on media reports of a proposed merger between IDFC Bank and non-banking financial company Capital First. Reports had suggested that after the proposed deal with Shriram City failed due to lack of consensus over valuations, the bank is now exploring a similar opportunity with Mumbai-based Capital First. This will help the bank tap into the 5-mln customer base of the company, which comprises retail and micro, small and medium enterprises clients. Further, industrial growth rose more than estimates to an over two-year high of 8.4% in November, the highest since October 2015, propelled by double-digit
growth in consumer non-durable goods and infrastructure goods. Updates on the implementation of the government's recapitalisation programme and roll out of the capital infusion plan are also seen lending cues to shares of banks.

Source : Cogencis Information Services Ltd.

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