HDFC Bank, Axis, ICICI, Karur Vysya, Ujjivan SFB shares: What SBI Securities' Sunny Agrawal says
The market expert, in an interaction with Business Today, said ICICI Bank has been a clear outperformer and is expected to retain its leadership going ahead.
- Aug 15, 2026,
- Updated Aug 15, 2026 9:00 AM IST
Sunny Agrawal, Head - Fundamental Research at SBI Securities, sees continued strength in ICICI Bank Ltd and expects Axis Bank Ltd to outperform among larger private-sector lenders, while also favouring select mid-sized banks such as Karur Vysya Bank Ltd and Ujjivan Small Finance Bank Ltd.
Agrawal, in an interaction with Business Today on Friday, said ICICI Bank has been a clear outperformer and is expected to retain its leadership going ahead. He described the stock as a stable option for investors looking to add a banking stock to their portfolio.
For investors seeking exposure to another Tier-1 private lender, Agrawal highlighted Axis Bank. He said the lender could continue to outperform going ahead.
On HDFC Bank, Agrawal said the stock is trading at a reasonable valuation, but a gradual recovery could take at least two to three quarters. He said investors with a slightly longer investment horizon can consider HDFC Bank, while those looking to build positions over the next three to six months can focus on ICICI Bank and Axis Bank.
Agrawal also favoured select mid-sized banks. He said Karur Vysya Bank delivered a solid set of numbers during the quarter and is likely to outperform going ahead.
Among small finance banks, Agrawal highlighted Ujjivan Small Finance Bank, which he said also posted a solid set of numbers in the first quarter (Q1 FY27).
He put the fair value of Ujjivan SFB at around Rs 85 and said investors could consider allocating a small portion of their portfolios to the stock, keeping that price target in mind.
Sunny Agrawal, Head - Fundamental Research at SBI Securities, sees continued strength in ICICI Bank Ltd and expects Axis Bank Ltd to outperform among larger private-sector lenders, while also favouring select mid-sized banks such as Karur Vysya Bank Ltd and Ujjivan Small Finance Bank Ltd.
Agrawal, in an interaction with Business Today on Friday, said ICICI Bank has been a clear outperformer and is expected to retain its leadership going ahead. He described the stock as a stable option for investors looking to add a banking stock to their portfolio.
For investors seeking exposure to another Tier-1 private lender, Agrawal highlighted Axis Bank. He said the lender could continue to outperform going ahead.
On HDFC Bank, Agrawal said the stock is trading at a reasonable valuation, but a gradual recovery could take at least two to three quarters. He said investors with a slightly longer investment horizon can consider HDFC Bank, while those looking to build positions over the next three to six months can focus on ICICI Bank and Axis Bank.
Agrawal also favoured select mid-sized banks. He said Karur Vysya Bank delivered a solid set of numbers during the quarter and is likely to outperform going ahead.
Among small finance banks, Agrawal highlighted Ujjivan Small Finance Bank, which he said also posted a solid set of numbers in the first quarter (Q1 FY27).
He put the fair value of Ujjivan SFB at around Rs 85 and said investors could consider allocating a small portion of their portfolios to the stock, keeping that price target in mind.