Some of the top public sector banks declared their quarterly results last week and senior analyst MB Mahesh of Kotak Institutional Equities says there have not been any major negative surprises. The results were in-line for some banks and better-than- expected for others, he says.
If one wants to play the banking space through PSUs then SBI is the best idea to own, said MB Mahesh of Kotak Institutional Equities.
MB Mahesh, Analyst at Kotak Institutional Equities, says public sector banks need government support to raise capital for growth and cleaning-up their balance sheets.
Bank Nifty has fallen nearly 14 percent year-to-date and almost 23 percent from its all-time highs.
MB Mahesh, analyst at Kotak Institutional Equities is overweight on State Bank of India and likes ICICI Bank, Axis Bank, Federal Bank and DCB Bank.
MB Mahesh – Banking Analyst - Kotak Institutional Equities is of the view that one may prefer ICICI Bank, Axis Bank, DCB Bank, Federal Bank and State Bank of India.
MB Mahesh, Analyst at Kotak Institutional Equities says among public sector banks, State Bank of India is relatively better placed than other PSU banks. SBI has been delivering double digit NII growth.
MB Mahesh of Kotak Institutional Equities feels that the banks will experience pressure on margins in the next couple of quarters.
MB Mahesh of Kotak Institutional Equities, talking to CNBC-TV18, feels that given the challenging environment, it will be difficult for the Bank Nifty to outperform the broader markets
Private sector lender, IndusInd Bank will announce its third quarter earnings today. MB Mahesh, analyst, Kotak Institutional Equities expects the bank to deliver strong numbers with earnings growth of over 25 percent for the current quarter.