Banking Sector, as a part of Nifty, has still not gained momentum, owing to subdued performance by the leaders HDFC Bank and Kotak Bank. Their net profits were lower than previous quarters mainly due to treasury losses. However, ICICI bank still managed to beat its ATH.
Coming quarter, this is likely to change. In case of a strong quarter, these Banks will attract inflow of institutional funds, causing a break of their all time highs. In such a scenario, IDFC First wont be far behind.
VV has given a very strong commentary in the recent earnings call.
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