Tuesday, October 23, 2018

M S bullish on big banks

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Morgan Stanley is bullish on  banks due to higher interest rate trajectory, based on the position of Indian economy, amid NBFC turmoil is likely to improve large banks' positioning even more.

Big banks were doing well, but liquidity advantage should fuel further acceleration in Pre-Provision Operating Profit  growth.

In the large banks space, the global investment bank prefers ICICI Bank, HDFC Bank, State Bank of India and Axis Bank which could give 30-40 percent return in the next 12 months. 

Also Morgan Stanley is underweight on Yes Bank and RBL Bank, and 'equal weight' on AU Small Finance Bank

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