While the firm is reviewing its earnings estimates for these stocks, Siddharth Teli, Banking Analyst at CIMB, picks were Axis Bank, Yes Bank (at target price of Rs 1,000), HDFC Bank, (due to rate cut), ICICI Bank and HDFC, in the order.
Siddharth Teli, banking analyst at CIMB recommends holding IDFC.
Siddharth Teli, banking analyst at CIMB has an add rating on Axis Bank and is also the top pick.
Watch the interview of Siddharth Teli, Banking Analyst at CIMB with Latha Venkatesh & Sonia Shenoy on CNBC-TV18, in which he shared his readings and outlook on few banking stocks posts earnings.
Siddharth Teli, MD & Co-Head-Institutional Research at Religare Capital Markets is bullish on Shriram Transport Finance Corporation.
Siddharth Teli, MD & Co-Hd, Instl Research at Religare Capital Markets is of the view that one may pick Bank of Baroda with the PSU space.
With regards to public sector undertaking (PSU) one should look at banks that are well capitalisation, Bank of Baroda and State Bank of India are the ones that stand out. BoB is the best capitalised bank and trades at 0.7 times book says Siddharth Teli of Religare Capital Markets.
Siddharth Teli‘s picks in the PSU bank stocks include Bank of Baroda, Canara Bank and Oriental Bank of Commerce.
Siddharth Teli, Banking Analyst at Religare Capital Markets advises buying ICICI Bank and HDFC Bank.
Mahindra and Mahindra Financial Services reported poor set of earnings in the quarter ended December 2013. Standalone profit after tax of the non-banking finance company fell 18 percent year-on-year to Rs 164 crore dented by higher provisions indicating stress on asset quality.
According to Siddharth Teli of Religare Capital Markets, one may hold Punjab National Bank (PNB).
Siddharth Teli of Religare Capital Markets feels that one may see 30 percent upside in IndusInd Bank.
According to Siddharth Teli of Religare Capital Markets, HDFC Bank is a top pick in the private banking space.
Siddharth Teli of Religare Capital Markets expects asset quality to remain a concern for banks in the coming days. Moreover, he expects slippages to remain elevated for banks.
Siddharth Teli of Religare Capital Markets is of the view that one may hold Bank of India.
Siddharth Teli believes Bank of Baroda is good bet in the PSU banking space as there has been some upgrade in the earnings and there is a possibility of an uptick in margins going ahead.
Siddharth Teli of Religare Capital Markets expects limited upside in ICICI Bank.
Siddharth Teli of Religare Capital Markets says the numers posted by IndusInd Bank were fairly good both on asset quality front as well as margins.
if one were to play the MSF unwind trade then it should be through Yes Bank, IndusInd Bank and non-banking financial corporations (NBFCs) like Bajaj Finance, M&M Financial, says Siddharth Teli of Religare Capital Markets.
According to Siddharth Teli of Religare Capital Markets overweight on HDFC Bank and Housing Development Finance Corporation (HDFC).
Siddharth Teli of Religare Capital Markets recommends holding IDFC.
Siddharth Teli of Religare Capital Markets is bullish on HDFC, HDFC Bank and IDFC.
Over the next one or two days, depending upon where bond yields settle, stocks such as Canara Bank, Oriental Bank of Commerce (OBC), Punjab National Bank (PNB) could see more upside given their higher sensitivity to their bond portfolios.
Speaking to CNBC-TV18, Siddharth Teli of Religare Capital Markets says banks are likely to see a 75 basis point hit on the margins and a 2-3 percent hit on earnings, assuming rates remain at current levels for the rest of the year.