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Last Updated : Nov 28, 2016 10:21 PM IST | Source: Moneycontrol.com

Buy, sell, hold: How to trade bank & auto stocks?

Credit Suisse suggests avoiding PSU Banks and YES Bank as RBI raising cash reserve ratio (CRR) will drain Rs 3.3 lakh crore of liquidity. It recommends well capitalised banks. It says intent to drain out excess liquidity may push bond yields up.

 
 
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Here are brokerage firm views on bank and auto stocks?

Banks

Credit Suisse suggests avoiding PSU Banks and YES Bank as RBI raising cash  reserve ratio  (CRR) will drain Rs 3.3 lakh crore of liquidity. It recommends well capitalised banks. It says  intent to drain out excess liquidity may push bond yields up.

Bank of America Merrill Lynch’s preferred picks are HDFC Bank, Kotak Mahindra, YES Bank, SBI and Bank of Baroda. It says banks’ earnings impact is limited from RBI’s CRR move. It prefer stronger franchise / well capitalised / growth banks.

Autos

Credit Suisse maintains neutral on Maruti with target cut to Rs 4900 from Rs 6000 per share . It maintains neutral on M&M with target cut to Rs 1340 from Rs 1370 per share. It is underweight on Eicher with target at Rs 18300 per share. It has upgraded hero to neutral from underweight with target cut to Rs 2880 from Rs 2960 per share. It maintains neutral rating on Bajaj Auto with target cut to Rs 2440 from Rs 2560 per share.  It maintains underweight on Tvs Motor with target cut to Rs 260 from Rs 270 per share.

First Published on Nov 28, 2016 09:28 am
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