Stocks To Watch: 4 Largecap Banking Stocks Become Top Gainers, Strong Q2 Earnings

Indian stock markets closed flat on the last trading day, as Nifty closed at 17,576.30 points. However, Nifty PSU bank gained by 1.85% and Nifty private bank gained by 1.66%, as major banks are reporting strong Q2 earnings reports. Here, top 4 private and PSU banking stocks have been mentioned that were top gainers on NSE, till last traded.

Axis Bank

The share price of Axis Bank closed at Rs. 904 a piece, gained by 9.46% intra day, as the bank reports a strong Q2 earnings report. Axis Bank is India's third largest private sector bank. It has recently reported that its consolidated net profit in Q2 stood at Rs. 5,330 crore, up by 70% YoY, as against Rs. 3,133 crore in the year-ago quarter. Additionally, its net interest income (NII) increased by 31% YoY to Rs. 10,360 crore from Rs. 7,901 crore in the year-ago quarter. In the last 1 month, it share price gained by 14.55% on NSE.

Kotak Bank

The share price of Kotak Bank closed at Rs. 1,905 a piece, gained by 2.22% intra day. Kotak Mahindra Bank today reports a 21% YoY growth in PAT at Rs. 3,608.18 crore in Q2 FY23, from Rs. 2,899.74 crore in Q2 FY22. Additionally, its net interest income (NII) gained to Rs. 6,620 crore in Q2, gained by 24% YoY at Rs. 5,353 crore in the year-ago quarter. The bank's share price surged by 10.26% in the last 6 months.

ICICI Bank

The share price of ICICI Bank closed at Rs. 909.80 a piece, gained by 2.38% intra day. Research firm Emkay Global is expecting that the bank's net profit can reach Rs. 7,386 crore in Q2, to gain 34% YoY, and 7% QoQ. Additionally, the ICICI Bank's PAT can also reach Rs. 7,470 crore, with a gain of 35.5% YoY. Earlier, the bank reported that its net profit stood at Rs. 5,511 crore in Q2 FY22, and stood at Rs. 6,904.9 crore in Q1 FY23.

State Bank Of India

The share price of State Bank closed at Rs. 561.65 a piece, gained by 1.13% intra day. It is the largest PSU bank with a market capitalization of Rs. 500,536 crore, which is offering a 1.27% dividend. The 52-week high level of this stock is Rs. 578.50, and the 52-week low level of this stock is Rs. 425. This multibagger banking stock gained by 19.30% in 2022, and gained by 12.20% in the last 6 months, on NSE.

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