Bank Stocks Outlook For The Week - 30.07.2018 To 03.08.2018
Bank stocks are likely to take cues from the statement of the Reserve Bank of India's monetary
policy committee after its bi-monthly policy meeting on Wednesday. We expect the monetary policy
committee to raise repo rate by 25 basis points, while remaining 14 see it being left unchanged at
6.25%. In June, the RBI had raised the repo rate by 25 bps for the first time in nearly four-and-ahalf
years citing several risks to its inflation target. Uncertainty over interest rates and monetary policy committee stance will keep investors on the sidelines on Monday and Tuesday. There may be some stock-specific movement led by earning announcement. Axis Bank will be keenly watched after the private sector lender had posted its first ever quarterly loss of 21.9 bln rupees in Jan-Mar due to a surge in provisions. The bank is likely to report a net profit of 5.3 bln rupees in Apr-Jun, over 59% lower on year. IDFC Bank, Bank of India, Central Bank of India and Bank of Maharashtra are also scheduled to declare their results in the coming week.
Source : Cogencis Information Services Ltd.
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Bank stocks are likely to take cues from the statement of the Reserve Bank of India's monetary
policy committee after its bi-monthly policy meeting on Wednesday. We expect the monetary policy
committee to raise repo rate by 25 basis points, while remaining 14 see it being left unchanged at
6.25%. In June, the RBI had raised the repo rate by 25 bps for the first time in nearly four-and-ahalf
years citing several risks to its inflation target. Uncertainty over interest rates and monetary policy committee stance will keep investors on the sidelines on Monday and Tuesday. There may be some stock-specific movement led by earning announcement. Axis Bank will be keenly watched after the private sector lender had posted its first ever quarterly loss of 21.9 bln rupees in Jan-Mar due to a surge in provisions. The bank is likely to report a net profit of 5.3 bln rupees in Apr-Jun, over 59% lower on year. IDFC Bank, Bank of India, Central Bank of India and Bank of Maharashtra are also scheduled to declare their results in the coming week.
Source : Cogencis Information Services Ltd.
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