There has been a slowdown in government banking stocks since the Lok Sabha elections. NIFTY PSU BANK If we look at the movement of brokerage, then in the last one month, we have got 1.26% and 10 percent negative return. In this period of decline, brokerage Emkay Global Financial Services One is bullish on a government stock. Domestic brokerage believes that this stock can give good returns in the coming days.
Emkay Global Financial Services has released a report on Indian Bank. In the last one month, this stock has given a negative return of 6 percent. At the same time, it has jumped 5.78% in 6 months. The current level of the stock is Rs 520 per share.
Global brokerage says that the fundamental strength of this PSU Bank Stock can be seen. In such a situation, the correction in the stock can be a good opportunity for long term investors. Emkay Global has given a rating for Indian Bank shares. Rs 675 per share The brokerage has given a target of Rs. 1000 crore. In this way, this target is 30% higher than the current level. The brokerage believes that there has been a change in the top management of this bank. The fundamentals of the bank look strong.
Apart from this, the brokerage believes that Indian Bank can maintain a credit growth of 13-14% in the coming time. At the same time, the interest margin is expected to remain above 3.25%. Apart from this, the focus is on increasing the return on assets (RoE) to more than 1%. There is a constant focus on improving asset quality. In such a situation, this correction is a good opportunity for long term investors to buy.
(Disclaimer: (Business Today Bazaar is not advising to invest in any stock. Before investing anywhere, please consult a SEBI registered advisor.)