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Bank stocks rise on October 9 as Federal Bank gains 2.93%, with Kotak Bank, SBI and Canara Bank also advancing. Check Goldman Sachs targets and the RBI rate impact.
RBIs first rate hike in nearly four years has put the spotlight on banking stocks, with analysts divided on the near-term impact on margins. Jefferies sees large private banks such as ICICI Bank and Kotak Mahindra Bank as key beneficiaries, while Q2 earnings could offer clues on the sectors outlook.
Bank Stocks: Analysts at Kotak Institutional Equities believe the rate hike cycle poses limited risk for banks, given healthy balance sheets, tighter underwriting standards and stronger borrower fundamentals.