NIFTY 50

RBI measures to boost banks’ performance; prefer ICICI to Kotak: IIFL

Updated : October 15, 2020 12:18 PM IST

Abhimanyu Sofat of IIFL expects banks to do well following the measures announced by the RBI in the recent monetary policy.

“I am not in the camp which believes financials will be continue to be under stress,” Sofat said, adding, “….if the economy does well clearly, they will do well.”

“The faster recovery could happen in ICICI Bank,” he said. IIF has a price target of Rs 500 for ICICI Bank. “With regards to Kotak Mahindra Bank, since the valuations are bit stretched the stock can go to around Rs 1,450 levels. So I think ICICI has more upside relative to Kotak Mahindra.”

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