Banking Stock Picks for Long Term - May 10
Here are some of the stock recommended to buy for long term by the experts at Sharekhan Brokerage Firm. These Stocks are recommended for long term gains based on fundamentals. As th Indian Stock Markets are currently trading week and under pressure, we may see short term fluctuation in these stocks as well.
Punjab National Bank
- CMP: Rs 1014
- Target Price: Rs 1158
The Net Profits for Q4 are inline with the expectations. The loan sanctioning rate is looking good. Due to the weakness in treasury profits, in Q4 the Non-Interest income has seen slight decline.
Union Bank of India
- CMP: Rs 290
- Target Price: Rs 349
Q4 Results of Union Bank of India are very encouraging. The loan growth has exceeded the expectations. The ‘net interest margin’ (NIM) has exceeded expectation. NIM recorded this growth because of a reduction in interest paid on deposits.
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