Kotak Securities' Q3 outlook for banks, suggest buys
15 Jan 10 12:26 PM
ET
Kotak Securities is bullish on State Bank of India, Axis Bank, Bank of Baroda, and Union Bank from the banking space. The brokerage expects 14% year-on-year loan growth in FY10. It sees deposit growth at 18%.
Manish Karwa of Kotak Securities, expects 40% and 20% growth in Axis Bank's Q3 net interest income and profit after tax. He sees a better trend on non-performing loans for ICICI Bank and HDFC Bank this quarter. SBI, he says, should see loan growth of 16%.