IDFC First Bank shares gained 1.75% to Rs 86.20 in opening deals on Wednesday.
YES Bankand RBL Bank would benefit from the foreign bank ownership, Emkay said. This would bring new business opportunities in corporate banking (especially SME) and some edge in retail deposits, it added.
Recent investments: Warburg Pincus and ADIA in IDFC First Bank; Emirates NBD’s proposed majority investment in RBL Bank, SMBC in YES Bank, Fairfax in CSB Bank, DBS bank merger with Lakshmi Vilas Bank.
HDFC Securities’ portfolio included a mix of mega-caps and emerging opportunities underpinned by robust fundamentals and attractive valuations, positioned to generate superior returns in the coming year.
MOFSL noted steady progress across several key parameters but flagged near-term constraints that could weigh on earnings momentum.
Lenders focused on unsecured loans were particularly affected—IDFC First Bank fell around 41 per cent, IndusInd Bank 73 per cent, Bandhan 46 per cent, RBL Bank 43 per cent, Equitas SFB SFB 95 per cent.
An analyst from Master Capital said that IDFC First Bank has registered a decisive breakout from a rectangle pattern on the daily timeframe, reaffirming continuation of the broader uptrend.
Sensex, Nifty: Indian benchmark indices scripted a strong rebound on Friday after the RBI slashed repo rates by 50 basis points, which came as a positive surprise.
Nifty Bank index was seen hitting a new record high during the trading session on Friday, after the RBI announced its to cut interest rates by 50 basis points in its monetary policy.
An analyst from Arihant Capital Markets is observing that prices of IRFC are trading below the 200-day SMA on the daily charts, which is sign of weakness.
Lifted by a slew of strong performance from the domestic banking sector, Nifty Bank index, the gauge of banking stocks in India, hit its 52-week high on Monday, rising nearly 2 per cent for the day.
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