Yes Bank vs Kotak Mahindra Bank vs ICICI Bank shares: After announcement of strong Q1 results of Yes Bank, Kotak Mahindra Bank and ICICI Bank on Saturday, strong buying interest is expected in these private. According to stock market experts, Nifty Bank index has logged near 6 per cent rise in last week session and after strong Q1 earnings, this rally in Bank Nifty index is expected to continue further. They said that all three banks are expected to attract bulls’ attention, however, ICICI Bank and Kotak Mahindra Bank may attract more buyers in comparison to Yes Bank.
After strong Q1FY23 results of ICICI Bank, Jefferies has raised its long term target from ₹1070 to ₹1080 apiece whereas ICICI Bank share price today is around 800 per share. So, the global brokerage is expecting 35 per cent upside in the banking scrip after robust Q1 earnings.
Giving ‘buy’ tag to Kotak Mahindra Bank shares, Anand Dama, Senior Research Analyst at Emkay Global Financial Services said, “We expect the bank to deliver 2-2.1% RoA on the back of accelerating growth and lower LLP, with RoE of around 13-14% over FY23-25E due to its elevated capital levels.” He advised positional investors to buy Kotak Mahindra Bank for the target price of ₹2180 apiece levels.
Speaking on Yes Bank vs Kotak Mahindra Bank vs ICICI Bank shares, Ravi Singhal, CEO at GCL Securities said, “All three banks have delivered strong Q1 numbers but in comparison to all these three private lenders, ICICI Bank looks more promising. With 50 per cent rise in standalone YoY profit and 21 per cent growth in advances, ICICI Bank shares are expected to outperform its peers in long term.”
Speaking on Yes Bank share price outlook,, Ravi Singhal of GCL Securities said, “Yes Bank shares have strong support at ₹12.50 whereas immediate support for the stock is placed at ₹13.75 levels. The stock may become bullish after giving breakout above ₹16.20 apiece levels on closing basis and may go up to ₹19 apiece levels.”
Advising investors to prefer ICICI Bank and Kotak Mahindra Bank ahead of Yes Bank, Sumeet Bagadia, Executive Director at Choice Broking said, “Shares of ICICI Bank and Kotak Mahindra Bank are looking better placed and it may give 5-8 per cent return to its shareholders in near term.”
ICICI Bank reported a growth of around 50 per cent in net profit to ₹6,904.94 crore for the April to June 2022 period against Rs4,616.02 crore in Q1FY22. The private lender also registered net interest income of ₹13,210.02 crore in Q1FY23, logging 20.8 per cent jump against ₹10,935.76 crore in Q1 FY2021-22.
Likewise, Kotak Mahindra Bank reported net profit in first quarter of current fiscal at ₹2,071.10 crore, around 26.10 per cent higher from its net profit of ₹1,641.90 crore in same quarter a year ago.
Similarly, Yes Bank reported a YoY jump in net profit by near 50 per cent at ₹311 crore in recently ended June 2022 quarter. In its Q1 results announced on Saturday, Yes Bank also reported a YoY jump of 9.67 per cent in total income whereas its income from has shot up 13.47 per cent in the said quarter.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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