Bank Stocks Outlook For The Week - 21 To 25.01.2019
Bank stocks are likely to trade with a positive bias next week supported by private sector banks such as HDFC Bank and Kotak Mahindra Bank. Stocks of both these lenders are seen higher on the back of strong quarterly earnings. HDFC Bank, which will detail Oct-Dec on Saturday, is seen posting a 20% yearly growth in bottomline. Kotak Mahindra Bank is seen reporting 24% year-on-year rise in net profit for the Oct-Dec quarter at 13.1 bln rupees, backed by strong loan growth and stable credit cost. The bank will detail its earnings on Monday. With third quarter earnings lined up next week, stock-specific activity is expected. Union Bank of India, Vijaya Bank, YES Bank are among the banks that will announce their results next week. Investors will also eye developments related to the successor to YES Bank's Managing Director and Chief Executive Officer Rana Kapoor. As per directive from the Reserve Bank of India, the lender must appoint new managing director by Feb 1. Bank stocks will also take cues from the developments pertaining to recapitalisation of public sector banks and movement on government bond yields in the run-up to the Interim Budget.
Source : Cogencis Information Services Ltd.
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Bank stocks are likely to trade with a positive bias next week supported by private sector banks such as HDFC Bank and Kotak Mahindra Bank. Stocks of both these lenders are seen higher on the back of strong quarterly earnings. HDFC Bank, which will detail Oct-Dec on Saturday, is seen posting a 20% yearly growth in bottomline. Kotak Mahindra Bank is seen reporting 24% year-on-year rise in net profit for the Oct-Dec quarter at 13.1 bln rupees, backed by strong loan growth and stable credit cost. The bank will detail its earnings on Monday. With third quarter earnings lined up next week, stock-specific activity is expected. Union Bank of India, Vijaya Bank, YES Bank are among the banks that will announce their results next week. Investors will also eye developments related to the successor to YES Bank's Managing Director and Chief Executive Officer Rana Kapoor. As per directive from the Reserve Bank of India, the lender must appoint new managing director by Feb 1. Bank stocks will also take cues from the developments pertaining to recapitalisation of public sector banks and movement on government bond yields in the run-up to the Interim Budget.
Source : Cogencis Information Services Ltd.
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