Nuvama Institutional Equities has identified 12 Indian banking stocks as attractive long-term buys, citing potential upside even as the sector faces significant macroeconomic headwinds.
The brokerage’s latest recommendation includes major lenders such as State Bank of India (SBI), HDFC Bank, and ICICI Bank, signaling confidence in the financial sector’s resilience despite external pressures.
The call comes at a time when India’s financial sector is navigating a complex environment.
Nuvama points to risks stemming from the ongoing conflict in West Asia and concerns over a potentially poor monsoon season, which could impact broader economic activity.
Nevertheless, the brokerage argues that these challenges present opportunities for selective investment in high-quality banking names.
This positive outlook aligns with recent market momentum for Indian lenders.