Stay Away! Nuvama lists 5 stocks likely to underperform in 2023

Nuvama believes peaking rates amid deepening downgrades could weigh on lofty Indian equities’ valuations in 2023, however, strong balance sheets and potential rate cuts in H2CY23 should limit dislocations. It expects 2023 to be another year of flat returns with volatility and defensives/largecaps outperforming. Amid this backdrop, the brokerage has come out with 5 stocks that are likely to underperform. Let's take a look:

Bandhan Bank shares surged over 5% on Monday's trade; here's why

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Brokerage houses, ICICI direct Research report and Nuvama Wealth Management Ltd have 'hold' rating for the stock, while Motilal Oswal Financial Services Ltd has 'neutral' rating for the stock.

Bandhan Bank Q3 profit plummets 64% to ₹291 crore

<ul><li>However, the bank's total income increased to ₹4,840.94 crore in the latest December quarter from ₹4,117.76 crore a year ago, it said in a regulatory filing.</li></ul>

Phillip Capital initiates coverage on Bandhan Bank with a ‘buy’, sees 41% upside - here's why

Phillip Capital underscored that Bandhan Bank is undergoing a transformation – both in terms of loans and geographical mix.

Bandhan Bank stock down 7% this year; should you buy?

Bandhan Bank had an analyst meet on December 01, 2022, where the lender discussed its business overview and further strategy.

Aurobindo Pharma, Max Financial, Voltas among stocks that hit 52-week lows in November

<ul><li>Aurobindo Pharma shares hit their 52-week low of ₹455.05 on November 25; Max Financial's 52-week low level was ₹627.80 hit on November 23.</li></ul>

Looking for FDs? These banks offer over 7.5 percent interest on specific fixed deposits. Details here

A number of banks such as Bank of India, IDBI Bank and Bandhan Bank offer a higher rate of interest (in the range of 7.5 percent to 7.75 percent) on deposits of a specific duration

Bandhan Bank dips over 17% after Q2 results to hit 52-week low; time to buy?

On the asset quality side, Bandhan Bank showed improvement as the gross non-performing assets (GNPA) as on September 30, 2022, fell to 7.19 per cent of the gross advances as against 10.8 per cent as on September 30, 2021.

Bandhan Bank: ICICI Securities sees over 60% upside despite the stock trading at a 7-month low; Here's why

According to the ICICI securities, Bandhan Bank's net interest income will rise from ₹8,700 crore in FY22 to ₹10,500 crore in FY23 and to ₹12,300 crore in FY24. The bank's net profit is also expected to increase from ₹100 crore in FY22 to ₹4,500 crore in FY23.

Nifty Bank drops 2.3%; AU Small Finance Bank, Bandhan Bank and Federal Bank are among top laggards

The Nifty 50 dropped 1.82 percent, or 315.45 points, to 17,011.90, while the S&P BSE Sensex dropped 1.60 percent to 57,167.55. According to Trendlyne data, FPIs were net sellers of ₹2,899.7 crore in the cash segment on September 23, 2022.

The Nifty 50 dropped 1.73 percent, or 299.50 points, to 17,027.85, while the S&amp;P BSE Sensex dropped 953.70 points or 1.64 percent to 57,145.22. The India VIX also rose 6.31% to 21.89 levels. Since the Fed rate hike on September 21, the Nifty and Sensex have lost 3.50% each.

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Stay Away! Nuvama lists 5 stocks likely to underperform in 2023

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