SBI, ICICI Bank, IndusInd Bank, Axis Bank share prices today: Valuations imply strong mid-term recovery says Nomura
Nomura highlights that the Nifty bank index has outperformed the broader Nifty index, by a staggering 14% since March 2020 lows and 7% since the beginning of CY21. The outperformance, since March 2020 lows, is dominated by Indusind Bank (110% outperformance over the Nifty index), Axis Bank (40%) and ICICI Bank (23%).
In Nomura’s coverage, they prefer Axis Bank, ICICI Bank, IndusInd Bank and State Bank of India on the merits of a recovering economy. Nomura's other Buy-rated stock is HDFC Bank.