Business

Big profits can be placed on these two bank stocks

Multibagger Stock Tips: Brokerage firm Emkay Global is optimistic about Canara Bank and ICICI Bank. It has a buy recommendation on the stock with an upside target of 18%. According to the brokerage, the price target of the shares can be met within the next year.

ICICI Bank
In its research report dated 25 August 2021, Emkay Global Financial recommends a buy on ICICI Bank stock with a target price of Rs 825. The current price of ICICI share is Rs 694 per share.

According to Emkay Global Financials, by FY23E/FY24E, the bank will regain its decade best ROE of 15%/16% on the back of better growth and good core profitability.

Canara Bank
In its research report dated August 25, 2021, Emkay Global Financials recommends a buy on Canara Bank stock with a target price of Rs 185. The current share price of Canara Bank is Rs 156 per share.

Let us tell you that veteran investors follow Rakesh Jhunjhunwala’s shares for value pick, there is good news for them. Warren Buffett of India has acquired 1.59 per cent stake in Canara Bank during the April to June 2021 quarter. Canara Bank has given information about the latest share holding pattern on the website of stock exchange BSE.

As per the Canara Bank shareholding pattern for the period April to June 2021, Jhunjhunwala has purchased 2,88,50,000 Canara Bank shares, which is approximately 1.59 per cent of Canara Bank’s net shares.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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