We are bullish on these 4 leading banking stocks and suggests "buy" ahead of the Diwali.
BUY HDFCBANK SHARES ABOVE 1440 TARGET 1555/1835
The National Stock Exchange may exclude heavyweight HDFC from 50-stock index Nifty closer to ex-date of its merger with HDFC Bank, which is likely to be concluded a few months ahead of the scheduled time.The merger proposal of the two entities has already got all the approvals, barring shareholders’ nod (scheduled on November 25) along with the final clearance from the Reserve Bank of India.HDFC has 5.5 per cent weight in the Nifty. This translates into USD 1.3-1.5 billion outflow from passive funds on its exclusion from the index.
BUY FEDERALBNK SHARES ABOVE 133 TARGET 145/163
Federal Bank shares hit life-time high after the private lender reported strong Q2FY23 results on Friday. Federal Bank shares are expected to remain in uptrend after the strong Q2 numbers.
BUY PRAJIND SHARES ABOVE 425 TARGET 462/497
Praj Industries Ltd. reported a reasonable quarterly performance with revenue growth of 64.6% YoY. Ebitda margin were impacted during the quarter owing to higher contribution of domestic revenue, commodity inflation and supply chain issues.
BUY RADICO SHARES ABOVE 1055 TARGET 1105/1180
Radico Khaitan Limited's (NSE:RADICO) Stock will be in Uptrend: Fundamentals can Drive The Momentum.
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