[ad_1]
SBI vs ICICI Bank shares: After strong Q3 earnings, State Bank of India (SBI) share price surged and hit its 52-week high of ₹549 per share on NSE on Friday. The banking stocks is under retracement since then but stock market experts are highly bullish on the public sector bank. Similarly, leading private lender ICICI Bank share price has also reported strong Q3 results and ICICI Bank shares are also around ₹85 lower from its 52-week high of ₹867 per share levels.
According to stock market experts, both banking stocks have reported strong Q3 earnings and they are poised to give further upside movement in upcoming trade sessions. However, when asked about choosing one over other, they favoured the PSU banking stock to buy as it is expected to emerge as major beneficiary of the recently tabled infrastructure-oriented Union Budget 2022.
Speaking SBI vs ICICI Bank shares; Avinash Gorakshkar, Head of Research at Profitmart securities said, “Both SBI and ICICI Bank have reported strong Q3FY22 results and in the wake of unlock activities, both banks are expected to register rise in their business volume. However, after the infra-focused Union Budget 2022, SBI is expected to witness more demand for credit line leading to more rise in business volume in comparison to ICICI Bank. So, this rise in volume is expected to make a big difference between the two lender’s upcoming quarterly numbers. So, one should look at SBI ahead of ICICI Bank as FPI may also look at PSU banks after their recent fish out from the private banks.” Avinash Gorakshkar of Profitmart Securities said that one should hold SBI shares for long term target of ₹650 apiece levels.
Echoing with Avinash Gorakshkar’s views; Sumeet Bagadia, Executive Director at Choice Broking said, “Both ICICI Bank shares and SBI stocks are looking positive on chart pattern. One can buy SBI shares at current levels for short term target of ₹580 maintaining stop loss at ₹520 apiece levels. However, one can hold this banking stock for medium term target of ₹600 as well. For ICICI Bank shares, one can buy this banking stock at current market price for short to medium term target of ₹800 to ₹820 maintaining stop loss at ₹770 levels.”
If an investor is planning to invest in banking stocks and if he/she has to choose between SBI and ICCI Bank shares, what should they choose? To this Sumeet Bagadia recommended buying SBI over ICICI Bank stocks.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!
[ad_2]
Source link