Macquarie upgrades Kotak Mahindra Bank, SBI Life, downgrades Bajaj Finance ratings and targets.

From Network18: 2024-06-19 22:29:55

Macquarie has upgraded ratings for Kotak Mahindra Bank and SBI Life to ‘outperform’, with increased share price targets. They have cut Bajaj Finance rating to ‘underperform’ and lowered targets. Private banks are seen as attractive investments with 16-18 percent RoE projections. Macquarie’s top picks are Axis Bank and IndusInd Bank.

Bank Nifty hit a new high, just below 52,000 points led by private lenders like Axis Bank, HDFC Bank, ICICI Bank, and IndusInd Bank. Shares of multiple banks increased by 1-3 percent. Bernstein and CLSA express optimism in the sector, with strong credit growth and healthier balance sheets for Indian banks.



Read more at Network18: Macquarie upgrades Kotak Mahindra Bank, SBI Life stock ratings, cuts Bajaj Finance share price target