Best bank stock to buy in 2023: HDFC Bank, Axis Bank, ICICI Bank, others

Produced by: Harshita Tyagi
Designed by: Mohsin Shaikh

Private sector banks reported a robust profile with healthy growth in net interest income (NII), credit offtake, and reduction in provision burden for Q4FY23

Bank report healthy
Q4 numbers

In the quarter ended March 31, 2023, private banks' gross non-performing assets (gross NPAs), in absolute amounts, declined by 32.3% to Rs 1.12 lakh crore from Rs 1.65 lakh crore at the end of March 2022

Private Bank NPAs fall

Experts are bullish on the banking sector as major banks have cleaned up their balance sheets. All the earlier corporate credit losses were cleaned up as well. Given the high interest rates, clean balance sheets, banks in India are well-placed

Banks well-placed

As per analysts, banks in India are trading at multi-year low valuation multiples and offer a good investment opportunity. Here are the best bank stocks that you can buy in 2023

Best bank stock to buy

HDFC Bank shares were trading at Rs 1,656.75 on the NSE on Friday at 10:22, up marginally from Thursday's closing price. HDFC Bank share price has jumped more than 27% in the last one year

HDFC Bank

Kotak Institutional Equities, ICICI Securities, Sharekhan, Prabhudas Lilladher, Investec, Motilal Oswal Financial Services, all have a buy rating on HDFC Bank stock with a target price of up to Rs 1,990 per share

Brokerages on HDFC Bank

ICICI Bank shares were trading at Rs 936.40 on the NSE on Friday at 10:22 am, down marginally from Thursday's closing price. In the last one year, ICICI Bank share price has jumped more than 34%

ICICI Bank

Brokerage firms JM Financial, Kotak Securities, HDFC Securities, Choice Broking, LKP Securities, Motilal Oswal, all have a 'buy' call on the stocks with a target price of up to Rs 1,165 per share

Brokerages on ICICI Bank

Axis Bank shares were trading at Rs 902.45 on the NSE on Friday at 10:30 am, up marginally from Thursday's closing price. Axis Bank share price has jumped nearly 40% in the last one year

Axis Bank

Yes Securities, Prabhudas Lilladher, JM Financial Services, HDFC Securities, Motilal Oswal, ICICI Securities, Kotak Securities, all have a 'buy' rating on the stock with a target price of up to Rs 1,130 per share

Brokerages on Axis Bank

IndusInd Bank shares were trading at Rs 1,184 on the NSE on Friday at 10:45 am, down marginally from Thursday's closing price. In the last one year, IndusInd Bank share price has jumped around 36%

IndusInd Bank

UBS, Jefferies, Prabhudas Lilladher, ICICI Securities, Sharekhan, Motilal Oswal, all have a 'buy' rating on the IndusInd Bank, while Morgan Stanley has an 'Outperform' rating on the lender's shares

Brokerages on IndusInd
Bank

Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position

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