Nirmal Bang: Banking & Financial Sector Q2 Earnings Review - Valuations Vulnerable Post Recent Run-Up
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Nirmal Bang Report
In the last two months, the Bank Nifty is up approximately 40%. Over the same period, the stocks in our coverage (excluding life insurance) are up 8-73% without any significant change in fundamentals, except for the positive commentary on improving collections and slightly better growth outlook.
In addition, the positive news flow around Covid-19 vaccines has contributed to the recent rally.
While we are no experts on the subject of vaccines in any manner, we do believe that the rally (in financials) more than captures the near-to-medium term fundamentals.
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