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Re-rating on cards for PSU Banks; SBI, Bank of Baroda can give 25% return in 2024

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With consistent earnings normalization, controlled credit costs, and healthy asset quality, earnings for PSBs are expected to grow at a more sustainable pace. We estimate the profitability of the top six PSBs under our coverage to rise to Rs 1.7 trillion by FY26 from Rs 573 billion in FY22 and from collective losses in FY18. … Read more