YES Bank shares jumped 6.3 per cent to Rs 19.23 apiece. Arihant Capital Markets noted that YES Bank clocked a healthy improvement in net profit, primarily supported by lower operating expenses and reduced credit costs.
HDFC Bank, the scrip rose 1.94 per cent to Rs 1,943.50. ICICI Bank saw its shares advancing 1.51 per cent to Rs 1,427.90.
Shares of YES Bank, HDFC Bank and ICICI Bank climbed up to 7 per cent in Monday's trade following better-than-expected numbers from the three private lenders. Analysts are largely positive on private lenders, with a few raising target prices for HDFC Bank and ICICI Bank.
Among the three stocks, YES Bank shares jumped 6.3 per cent to Rs 19.23 apiece. With this, the scrip is up 11 per cent in the past one week. Arihant Capital Markets noted that YES Bank clocked a healthy improvement in net profit, primarily supported by lower operating expenses and reduced credit costs. Its NIM expanded by 10 bps YoY and QoQ, aided by a decline in the cost of deposits. It maintained its long-term positive view on the YES Bank stock.
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In the case of HDFC Bank, the scrip rose 1.94 per cent to Rs 1,943.50, as the largest bank by market capitalisation recorded a steady growth for the March quarter, with in-line profit, a beat on net interest income (NII), and a marginal improvement in core margins sequentially. Following its quarterly results, a few stock analysts have maintained their 'Buy' ratings but increased target prices for the HDFC Bank stock to roughly Rs 2,200-2,350 apiece.
ICICI Bank saw its shares advancing 1.51 per cent to Rs 1,427.90 after March quarter results of ICICI Bank Ltd beat analyst estimates across key parameters, resulting in revisions in price targets that suggest the Street is willing to give ICICI Bank a higher premium as compared to its historical price-to-book average.
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Nomura said it is most positive on financials as the segment has relatively low earnings risk and presents valuation comfort.
Jefferies has maintained its 'Buy' rating on HDFC Bank, raising the target price to Rs 2,340 from Rs 2,120 per share. CLSA also reiterated its 'Buy' call, revising its target price upwards to Rs 2,200 from Rs 1,785.Macquarie has assigned an 'Outperform' rating and increased its target price to Rs 2,300.
In the case of ICICI Bank, Jefferies has retained its 'Buy' rating, raising the target price to Rs 1,710 from Rs 1,575 per share. Nomura India also maintained a 'Buy' recommendation, increasing its target price to Rs 1,700 from Rs 1,600. CLSA reiterated its 'Accumulate' rating and revised its target price upward to Rs 1,700 from Rs 1,600.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Apr 21, 2025 9:24 AM IST
