Analysts list top banking stock picks for Samvat 2083
Banking stocks have experienced significant volatility since last Diwali due to leadership changes and inflationary pressures, according to The Economic Times.
As the new Samvat 2083 begins with Diwali 2026, analysts have identified several banking stocks with potential risk-reward advantages. The Nifty Bank index, which was around 58,000 during Diwali on October 20, 2025, currently hovers near 55,500, according to The Economic Times.
The banking sector has faced various headwinds, including leadership concerns and soaring oil prices. HDFC Bank shares fell nearly 28 per cent since last Diwali, following the resignation of former part-time Chairman Atanu Chakraborty. The lender later appointed Anup Bagchi as MD and CEO to replace Sashidhar Jagdishan.
Performance across other lenders has been mixed. Yes Bank shares fell more than 32 per cent, while ICICI Bank, Kotak Mahindra Bank, and Axis Bank recorded gains of up to 5 per cent. SBI and PNB shares rose by 10 per cent and 2 per cent respectively.
Vinit Bolinjkar, Head of Research at Ventura, stated that credit demand remains steady across retail, small business, and corporate segments. He noted that banks are working to improve deposit growth and price deposits carefully to protect margins.
Sunny Agrawal, Head of Fundamental Research at SBI Securities, identified ICICI Bank as an attractive investment due to its resilient margins and asset quality. He also noted that Karur Vysya Bank is executing well with a return on assets trending above 2 per cent.
Ventura named HDFC Bank a top pick, with Bolinjkar describing it as a quality franchise for long-term investors. Other picks mentioned include Federal Bank, Tamilnad Mercantile Bank, and Bank of Maharashtra for public sector banks.