Bank Stocks Outlook For The Week - 05 To 09.11.2018
In the last leg of Jul-Sep earnings, State Bank of India's results, to be announced on Monday, will
give direction to bank stocks next week. Trading will be truncated next week as Indian financial markets are shut on Wednesday and Thursday for Diwali. Improvement in asset quality of corporate heavy lenders such as ICICI Bank and Axis Bank, and others such as Bank of Baroda and Union Bank of India, had led to renewed buying in bank stocks this week. SBI's results will give cues whether the rise in stock prices will continue. We expect the bank to report a loss ranging from 7.4 bln rupees to 35.0 bln rupees, and seven others see it returning to profit with estimates ranging from 2.6 bln rupees to 54.8 bln rupees. Developments related to resolution of debt-laden IL&FS Group will be eyed for cues on likely impact on the asset quality of banks.
Source : Cogencis Information Services Ltd.
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In the last leg of Jul-Sep earnings, State Bank of India's results, to be announced on Monday, will
give direction to bank stocks next week. Trading will be truncated next week as Indian financial markets are shut on Wednesday and Thursday for Diwali. Improvement in asset quality of corporate heavy lenders such as ICICI Bank and Axis Bank, and others such as Bank of Baroda and Union Bank of India, had led to renewed buying in bank stocks this week. SBI's results will give cues whether the rise in stock prices will continue. We expect the bank to report a loss ranging from 7.4 bln rupees to 35.0 bln rupees, and seven others see it returning to profit with estimates ranging from 2.6 bln rupees to 54.8 bln rupees. Developments related to resolution of debt-laden IL&FS Group will be eyed for cues on likely impact on the asset quality of banks.
Source : Cogencis Information Services Ltd.
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