Homevideos Newsmarket Newsstocks News

Russia-Ukraine war has hit largecap banks hard: HDFC Securities

videos | IST

Russia-Ukraine war has hit largecap banks hard: HDFC Securities

Mini

Geopolitical shock led to deep cuts in largecap banks, said Krishnan ASV, lead analyst-BFSI at HDFC Securities, on Wednesday.

Geopolitical shocks have led to deep cuts in largecap banks, said Krishnan ASV, lead analyst-BFSI at HDFC Securities, on Wednesday.

In an interview to CNBC-TV18, he said, “Geopolitical shock have led to fairly deep cuts in almost all the largecap names and the one big casualty is inflation and that will be a dampener to growth and that’s the one big macro risk which earlier was not priced in. Therefore, that’s the one big headwind for the sector.”
Talking about largecaps, Krishnan said, “A lot of us anticipated that there is stress in the system which is not disclosed in the numbers etc., a lot of the clean-up has now happened, banks have raised fresh capital, and almost all large banks are well capitalised with the exception of maybe SBI.”
In the last one month, HDFC is down 8.38 percent and is currently trading at Rs 1,372.05 on the NSE, whereas ICICI Bank has seen a dip of 16.40 percent and is currently trading at Rs 672.05 on the national stock exchange.
SBI on the other hand, is currently trading at Rs 452 on the NSE, down 15.55 percent in the past one month alone, meanwhile Kotak Mahindra Bank is down just 5.25 percent and is currently trading at Rs 1,738 on the NSE.
For more details, watch the accompanying video
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng