As NPAs near RBI deadline, here are top 5 stocks to look out for

As the deadline for finalizing the resolution plan on stressed assets near, these are the top 10 stocks to watch out for on Monday.

State Bank of India (SBI) – With a market capitalization of ₹2,68,005.36 cr SBI closed at ₹300.45 on Friday. It has the highest load of NPAs ₹1.86 lakh cr as on Feb 2018. It reached a 52 week high at  ₹351.30 per share.

Bank of Baroda – With a market capitalization of ₹ 38,981.68 cr the bank closed at ₹147.40 on Friday. The NPA is at ₹46,307 cr as on Feb 2018.

Canara Bank – With a market capitalization of ₹ 20,252.22 cr the bank closed at ₹276.35 on Friday. The NPA is at ₹39,164 cr as on Feb 2018.

ICICI bank – With a market capitalization of ₹ 2,12,384.02 cr the bank closed at ₹330.15 on Friday. ICICI Bank leads in NPAs among private sector banks. It reached a 52 week high at  ₹365.70 per share.

Axis Bank – With a market capitalization of ₹1,64,266.79 cr the bank closed at ₹639.90 on Friday. Axis Bank falls next in private sector NPA. It reached a 52 week high at  ₹644.65 per share.

RBI deadline for NPA

Close to 70 large stressed assets accounting to ₹3.8 trillion must come up with a resolution plan by August 27 (Monday). Banks can either finalize a resolution plan or opt for bankruptcy proceedings. However banks choose to opt out of NCLT proceedings owing to large haircuts.

RBI sent a circular directing the banks on resolution plans by granting them 180 days timeline. Failing which they will be forced to initiate bankruptcy proceedings.

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