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.