#SharekhanResearch top preferred picks in Private Banks – ICICI, Axis, Federal, AU SFB; within PSBs – SBI & BOB; Q2FY23 preview; strong growth momentum to continue; Positive Outlook#StocksToWatch #Investment picks

CLSA On Banks Risk To Earnings Limited & Vals Reasonable Axis Bank Top Pick Along With ICICI & SBI BOB – Buy, TP raised To Rs 155 PNB- O-P, TR raised to Rs 40 Axis BK – Buy, TP Rs 1050 ICICI BK – Buy, TP Rs 1010 SBI – Buy, TP Rs 680

MS on Banks Loan growth acceleration sustained, +16.2% YoY vs. 15.5% YoY last fortnight Deposit growth steady at 9.5% YoY & remains a key item to monitor Expect strong rev growth acceleration for banks over next few yrs Top picks: ICICI, Axis, BOB & SBI

Jefferies on SBI Buy, TP raised to Rs 700, earnings by 3-5% Upgrade to factor in better credit growth & improved growth overseas Even as NIMs may be range-bound, healthy credit growth & low credit costs will support earnings & ROA improvement