Create Portfolio in Top Bank & NBFC Stock for November Series
Declarations of Q2 results in 2020 for banks and nbfc sectors is better than expected. A decent jump in net profit has shown from bank and selected nbfc in quarter2 results, keeping aside provision (bad assets). HDFC bank India’s top bank in private sector had post a good results during pandemic time, followed by few psu and other Banks & nbfc like axis bank, indusind bank, cholafinace, m&mfin etc.
So far Banknifty has shown a laggard, and Banknifty will be the only index to perform in November series keeping bank Q2 results on eye. But there can be a high volatile in bank and nbfc stocks as US election is on ahead. Buy stocks like HDFC bank, sbin, axisbank, bajajfinserv, bajajfinace, ICICI Bank, M&MFin etc in November series for higher returns.
SBI Q2 results is in progress on 4th November, 2020 SBI will announce it’s second quarter results which I expect to be a good results and help banknifty to move above 25000. Start accumulate top bank and nbfc stocks in portfolio for Diwali picks.