Banks have been playing an important role in the growth of the Indian economy. So investors also take a lot of interest in banking stocks. In fact, one of the popular indexes NIFTY50 too has numerous banking stocks that help investors track and trade the banking space.
One of the crucial factors that are looked upon while investing in banking stocks is its fundamentals. The banking stocks that you decide to invest in should have consistent growth in the past, strong performance, stable management, and a positive forecast for the future.
To make your job easy, in this article, we have selected 5 banking stocks that have stayed fundamentally strong in the past 10 years and can add value to your portfolio.
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It is the leading bank in India when it comes to private sector banks. It was among the first to get approval from the RBI to form a private-sector bank in 1994. It has a wide network of 5130 branches and 17076 ATMs spread across India.
HDFC Bank share price is currently trading around Rs 1600 on NSE as on Jan 2023 which is quite higher than its 52-week low of Rs 1271.60.
ICICI Bank was established in 1994 as a private-sector bank. It is considered to be the second largest private sector bank in India. It has branches and ATMs spread across the nation along with international branches in countries like Bahrain, Dubai and Singapore.
ICICI Bank has given a profit growth of 19.8% CAGR in the last 5 years. It’s a large-cap stock with good earnings per share which makes it worth buying. ICICI Bank share price is currently trading around Rs 900 as on Jan 2023 which is near to 52-week high of Rs 958.20.
State Bank of India (SBI), one of the Fortune 500, is a PSU bank headquartered in Mumbai. It was initially established as the Bank of Calcutta back in 1806. SBI is the largest bank in India with a wide network of over 22000 branches and 62617 ATMs.
SBI is the largest public sector bank in India. It is the 3rd Indian bank to cross Rs. 5 trillion market cap value. As of January 2023, SBI share price is trading around Rs 600, which is very close to a 52-week high of Rs 629.55.
Axis Bank is recognized as the third largest private sector bank in India. It is one of the first new-generation private sector banks which started its operations in 1993. It’s a multinational bank with a presence in 8 countries.
Axis Bank share price is currently trading around Rs 950 as of January 2023 which is very near to its 52-week high of Rs 970.
DCB Bank is a new-generation bank that has its roots in 1930. DCB bank is among the 11 banks that got permission from RBI to be converted from a cooperative bank to a scheduled commercial bank.
DCB bank has given importance to promoting entrepreneurship and building economically sound companies. DCB Bank’s share price, as of January 2023, is around Rs 120 on NSE, which is quite higher than its 52-week low of Rs 67.85. This makes it worthy of a long-term buy.
If you are dealing in online trading in stock market and are looking to invest in fundamentally strong banking stocks, we hope this article helps you. These stocks have been constant performers over the years and can add value to your portfolio.