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Macquarie has upgraded ratings on the stocks of Kotak Mahindra Bank and SBI Life to ‘outperform’. The brokerage has also raised the share price target for Kotak Mahindra Bank to Rs 2,025, and that for SBI Life to Rs 1,750.
Further, Macquarie has cut Bajaj Finance stock rating to ‘underperform’ from ‘neutral’, and its share price target to Rs 6,600. It has also cut SBI stock rating to ‘underperform’.
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The brokerage said that private sector banks are at attractive valuations, and are expected to report 16-18 percent RoE (Return on Equity) over the next couple of years.
It said it would avoid PSU banks, insurance firms, and fintech stocks, due to regulatory issues.
To be updated
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