Her we discuss Best NSE banking stock to buy now in India, I assume you are looking to invest in the best banking stocks in India. Don’t worry we’ve got your back. Here we would be discussing about some of the best Banking stocks to buy now in India.
But before that, let us first discuss why banking sector is of such importance and how is it beneficial to invest in. Banking sector is considered to be the building block of any economy. A country’s profound economic conditions can easily be figured out from how well their banks are doing financially and also this is also true the other way around. According to the Reserve Bank of India (RBI), India’s banking sector is well capitalized and regulated. Recent analysis and surveys suggest that Indian banks are generally resilient and have withstood the global downturn surprisingly quite well.
Recently, Indian banking industry has witnessed the roll out of innovative banking models like payments and small finance banks. RBI’s new measures may go a long way in helping the restructuring of the domestic banking industry and thus profiting them.
Now having stated these facts, let us dive into the list that you are looking for, the best banking stocks to buy now India.
NOTE: The list does not follow any particular order, due to the dynamic nature of the market the stats might change with time. However, it will give provide you with a rough idea about the leading names out there.
Best NSE banking stock to buy now in India
1. HDFC Bank Ltd
Housing Development Finance Corporation Limited (HDFC), are amongst the first few to receive an ‘in principle’ approval from the Reserve Bank of India (RBI) for setting up a bank in the private sector. Basically, they are a publicly held banking company, incorporated back in August 1994 as ‘HDFC Bank Limited’, having their registered office located in Mumbai, India. They provide with a range of banking and financial services such as retail banking, wholesale banking and treasury operations. Other than being promoted by HDFC Ltd and having 19.32% stake as on September 30, 2020, presently, they are also the largest private sector bank in India. Evidently as of March 31, 2020, the bank’s total balance sheet size stood at Rs. 15,30,511.
PRICE: 1438.90 (INR)
MKT CAP: 7.98 (LCr)
2. Kotak Mahindra Bank Ltd
Kotak Mahindra Bank is another well renowned and diverse financial services group. They are indulged in providing a wide range of banking and financial services like Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, Advisory services, Asset Management, Life Insurance and General Insurance. According to reports, their last traded share price was 1,748.40 down by -1.53% on the NSE. Its last traded stock price on BSE was 1,748.25 down by 0.00%. The total volume of shares on NSE and BSE combined was 2,271,570 shares. Its total combined turnover was Rs 396.24 crores. But overall, it is a good option for investing in this genre having given a rating of 4.5 stars by SAMCO.
PRICE: 1747.45 (INR)
MKT CAP: 3.47 (LCr)
3. ICICI Bank Ltd.
ICICI Bank is amongst the largest private sector banks in India. They are known for offering a diverse portfolio of financial products and services to their retail, SME and corporate customers. In addition to this, the Bank also has an extensive network of branches, ATMs and other touch-points to give profound services and experience to their customers. Evidently last traded share price of ICICI Bank Ltd was 727.10 down by -0.57% on the NSE. Its last traded stock price on BSE was 727.45 down by 0.00%. The total volume of shares on NSE and BSE combined was 8,800,690 shares. Its total combined turnover was Rs 638.70 crores. Having a rating of 4 stars on SAMCO is another good investing option.
PRICE: 727.45 (INR)
MKT CAP: 5.05 (LCr)
4. Bandhan Bank Ltd
Next we have up, Bandhan Bank a banking company that is governed by the Banking Regulation Act, 1949. In accordance to the Banking license which they received recenlty from the Reserve Bank of India on June 17, 2015, the Bank has commenced its banking operations from August 23, 2015. Also, the last traded share price of Bandhan Bank Ltd was 255.05 down by -1.53% on the NSE. Its last traded stock price on BSE was 255.15 down by 0.00%. The total volume of shares on NSE and BSE combined was 3,897,062 shares. But nevertheless their total combined turnover was Rs 99.18 crores, making it another probable investing option to consider amongst the top Banking stocks to buy now in India.
PRICE: 255.05 (INR)
MKT CAP: 41.11 (TCr)
5. Axis Bank Ltd.
Lastly, we’ve included Axis Bank. It is the third largest private sector bank in India offering an entire spectrum of financial services to customer segments including Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. Their last traded share price was 667.50 down by -1.66% on the NSE. According to reports, their last traded stock price on BSE was 667.45 down by 0.00% and the total volume of shares on NSE and BSE combined was 6,028,893 shares. And, their total combined turnover was Rs 403.22 crores. Also to be noted that, Axis Bank Ltd hit a 52-week high of 866.9 on 25-10-2021 and a 52-week low of 584.3 as of 23-12-2020.
PRICE: 668.00 (INR)
MKT CAP: 2.05 (LCr)
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