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SBI shares zoom over 2% as Nomura sees nearly 25% upside on attractive valuations, asset quality

Money Control

Money Control · 10m ago

SBI shares zoom over 2% as Nomura sees nearly 25% upside on attractive valuations, asset quality

- SBI shares surged nearly 3% after Nomura set a price target with 25% upside potential. - Nomura analysts have a 'Buy' call on SBI stock with a target of Rs 980 per share. - SBI's asset quality is expected to remain steady due to its lower exposure to problematic segments and strong retail underwriting track record. - SBI has the lowest domestic loan-to-deposit ratio among large banks, which reduces immediate growth pressures. - SBI shares have outperformed the benchmark Sensex, delivering around 25% returns in 2024.

Related News

Ola Electric IPO: EV Startup Raises INR 2,763 Cr From Anchor Investors

Inc42 · 1y ago

Ola Electric IPO: EV Startup Raises INR 2,763 Cr From Anchor Investors

Ola Electric, a startup, received INR 2,763 Cr in funding from anchor investors at INR 76 per equity share. Key investors include SBI, HDFC, Nippon Life, Nomura Asset Management, Government Pension Fund of Norway, and Fidelity. The company's initial public offering (IPO) has a price band of INR 72-76 per equity share and will conclude on August 6.

China stock market may outperform India in short term but Nomura has a warning

Business Today

Business Today · 6m ago

China stock market may outperform India in short term but Nomura has a warning

Nomura maintains a 'Neutral' stance on China and 'structural Overweight' on Indian stocks, anticipating short-term China outperformance but expects it to be temporary. As Indian stock valuations remain elevated, there's potential for further decline amid positive Chinese momentum and domestic factors. Despite a decadal low foreign ownership in India, market challenges persist. Conversely, China's technology sectors remain attractive, though risks like US-China tensions may impact future performance. Investors are advised to exercise caution.

Citi expects IndusInd Bank stock to rise up to 35% as management expects strong loan growth

Money Control

Money Control · 1y ago

Citi expects IndusInd Bank stock to rise up to 35% as management expects strong loan growth

Global brokerage firm Citi maintains a bullish stance on IndusInd Bank stock, assigning it a target price of Rs 2,010 per share. The bank's management is confident in growing loans by 18-20% over FY25-26, with growth driven by a rise in retail, balanced vehicle mix, and scale-up of new businesses. Citi expects over 35% upside potential from current levels. IndusInd Bank also expects deposits to gather pace, forecasting liability growth of 16-18% over FY25-26. Its asset quality metrics improved in Q4FY24, and the stock is deemed attractive in terms of valuation compared to peers.

BFSI to metal: Pankaj Pandey’s sector playbook for Nifty’s run to 27,000

Economic Times

Economic Times · 2m ago

BFSI to metal: Pankaj Pandey’s sector playbook for Nifty’s run to 27,000

Pankaj Pandey, Head of Research at ICICIdirect.com, sees a favorable market setup with Nifty earnings projected to grow 12% over the next two years. Key sectors like BFSI, capital goods, steel, cement, and infrastructure are well-positioned due to an anticipated capex revival. Valuations in the banking sector remain attractive, with a shift in foreign investor sentiment. The article highlights a sectoral churn, emphasizing the potential in public sector banks and selective new-age companies.

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

VCCircle

VCCircle · 1y ago

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

Ola Electric, backed by SoftBank, received over $2 billion in bids from big institutions ahead of its initial public offering (IPO). The IPO aims to raise $734 million and has already allocated shares to institutions such as Nomura, Norges Bank, SBI Mutual Funds, and HDFC Mutual Funds. Ola Electric plans to sell shares in the range of 72-76 rupees, targeting a valuation of $4 billion. The IPO is set to open for retail investors and eligible employees on Friday and close on Tuesday.

RBI Rate Cut: Monetary policy outcome to keep bolstering economic growth momentum, says Dhiraj Relli of HDFC Securities

Business Today

Business Today · 4m ago

RBI Rate Cut: Monetary policy outcome to keep bolstering economic growth momentum, says Dhiraj Relli of HDFC Securities

Dhiraj Relli of HDFC Securities suggests that long-term investors should consider building portfolios now, as midcap indices have dropped by 20-22% and individual stocks by 25-40% from their highs, creating attractive valuations. Relli anticipates a few months of consolidation in indices before growth, forecasting Nifty earnings to rise by 12-15% in FY26 and FY27. Business Today advises consulting a financial advisor before making investment decisions.

Mutual funds continue to buy HDFC Bank shares for fifth successive month

Money Control

Money Control · 1y ago

Mutual funds continue to buy HDFC Bank shares for fifth successive month

Mutual funds continue to show interest in HDFC Bank, with May marking the fifth consecutive month of buying shares. In May, mutual funds purchased shares worth Rs 7,600 crore, bringing the total value of shares held to Rs 2.32 lakh crore. SBI Mutual Fund is the largest stakeholder in HDFC Bank, followed by ICICI Prudential Mutual Fund and HDFC Mutual Fund. Despite underperforming in recent years, analysts believe the stock could see a recovery due to attractive valuations and low earnings per share expectations. The upcoming MSCI India index rebalance in August could also lead to significant passive buying of HDFC Bank shares.

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Economic Times

Economic Times · 2m ago

BoI to raise Rs 20,000 cr via infra bonds this fiscal

Bank of India (BoI) plans to raise Rs 20,000 crore through infrastructure bonds in the current fiscal year to fund various infrastructure projects. This decision has been approved by the board as part of efforts to join other banks like SBI in raising funds dedicated to infrastructure development. Infrastructure bonds are preferred due to their exemption from regulatory reserve requirements, unlike AT-1 and Tier-2 bonds, making them a more attractive funding option.

Investors rush to find anchor in Ola Electric IPO; local, foreign cos sign up for likely $350m book

Economic Times

Economic Times · 1y ago

Investors rush to find anchor in Ola Electric IPO; local, foreign cos sign up for likely $350m book

The upcoming IPO of Ola Electric Mobility has attracted interest from both domestic and international investors, as the company's valuation approaches $4 billion. The IPO is set to open on August 2, with anchor investors such as SBI AMC, HDFC AMC, and international institutions like Fidelity and Nomura bidding around $200-100 million each. This IPO marks the first fundraising initiative by an automaker in over 20 years. Ola Electric's CEO, Bhavish Aggarwal, will participate in the offer for sale, reducing his stake in the company. The anchor book is expected to open on August 1, with listing anticipated on August 9.

Chartist Talks: Sudeep Shah of SBI Securities sees potential opportunities for investors in IT sector given strong technical indicators

Money Control

Money Control · 10m ago

Chartist Talks: Sudeep Shah of SBI Securities sees potential opportunities for investors in IT sector given strong technical indicators

Technical indicators are pointing towards the strength of the IT sector, presenting potential investment opportunities. Sudeep Shah, Head of Technical and Derivative Research at SBI Securities, recommends VIP Industries and Whirlpool of India as attractive stocks during the market correction. Nifty and Bank Nifty have experienced significant corrections, with further selling pressure expected. The 61.8% Fibonacci retracement level of 24,800-24,750 is seen as immediate support for Nifty. Bank Nifty has corrected nearly 5.42% and has immediate support at the 100-day EMA zone of 51,000-50,900.

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