Private lender Kotak Mahindra Bank today retained its place among the 10 most valued Indian companies with a market valuation of over Rs 2.22 lakh crore, keeping the country's largest lender State Bank of India (SBI) out of the coveted list.
The top Nifty gainers included Cipla which was jumped 4 percent while Grasim Industries gained 2.5 percent. Hero MotoCorp and Indiabulls Housing Finance along with Kotak Mahindra Bank were the other gainers.
However, there is a need for universal banks which offer the entire gamut of services to be more agile to take on the new entrants, the bank's head of retail liabilities, investment and payment products, Ambuj Chandna said.
The president-designate of CII also said that one of the biggest challenges facing the Indian industry relates to ethics, values and governance.
The Nifty50 is expected to open flat on Friday tracking muted trend seen in other Asian markets.
The market breadth was in favour of the advances with 1432 stocks advancing while 306 declined and 314 remained unchanged. On the other hand, in the BSE, 1997 stocks advanced and 546 declined and 130 remained unchanged.
As underwriters of risks, bankers must share the blame, Uday Kotak.
Chandan Taparia of Motilal Oswal Securities recommends buying Bharat Financial Inclusion, Kotak Mahindra Bank and Reliance Industries.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Kotak Mahindra Bank, Shriram Transport Finance, Tata Global Beverage, HDFC, TCS, L&T and ACC and can sell CESC and Cummins India.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 16.5 points or 0.16 percent. Nifty futures were trading around 10,415-level on the Singaporean Exchange.
Ashwani Gujral of ashwanigujral.com recommends buying Johnson Controls, RBL Bank, Kotak Mahindra Bank, Yes Bank, IndusInd Bank and KPIT Technologies.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Canara Bank and Punjab National Bank and can buy Ashok Leyland.
Ashwani Gujral of ashwanigujral.com recommends buying Axis Bank, Bajaj Finance, Oberoi Realty, Kotak Mahindra Bank and UPL.
Rahul Shah of Motilal Oswal suggests buying JSW Steel, Kotak Mahindra Bank and Tata Elxsi.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Apollo Hospitals, Escorts and Kotak Mahindra Bank and can avoid Dr Reddy's Labs.
Ashwani Gujral of ashwanigujral.com recommends buying Infosys, Yes Bank and Kotak Mahindra Bank.
Sandeep Wagle of powermywealth.com recommends selling Kotak Mahindra Bank and Godrej Industries.
The market breadth was in favour of the declines on Friday morning with 222 stocks advancing while 1383 stocks declined and 409 stocks remained unchanged. On the BSE, 348 stocks advanced while 1766 stocks declined and 64 remained unchanged.
"Overall, it was a balanced Budget with focused allocation given to priority segments that are needed to lay the foundation for India’s long term sustainable growth, with only a marginal slippage on the fiscal deficit," says Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank Ltd.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy HDFC Bank, TCS, NIIT Tech, ICICI Bank and Kotak Mahindra Bank and can sell Tata Global Beverage.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Bharat Forge, Infosys, M&M Financial Services, Marico and Asian Paints and can sell Dalmia Bharat.
KRChoksey is bullish on Kotak Mahindra Bank has recommended accumulate rating on the stock with a target price of Rs 1172 in its research report dated January 22, 2018.
VK Sharma, Head - PCG and Capital Market Strategy at HDFC Securities recommends buying ICICI Prudential, ICICI Bank, Kotak Mahindra Bank, Torrent Power and UPL.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy HCL Tech, Kotak Mahindra Bank and Jubilant Foodworks and can sell Kaveri Seed and Can Fin Homes.
The Uday Kotak-led bank has been vocal about its interest in buying stressed assets but has not made much headway in the endeavour.