Bank Nifty has risen by 14.4 percent when compared to the pre-lockdown period from March 20 to October 14.
Barring HDFC Bank and IndusInd Bank, other stocks have underperformed Bank Nifty's growth. Clearly, HDFC Bank has outperformed in both, valuation change and rise in stock price among leaders.
In terms of stock price movement, IndusInd Bank and HDFC Bank have shown strong performance, while SBI and RBL Bank are the worst performers and have negative returns since March.
| Entity | Stock Movement B/n the dates |
| IndusInd Bank | 38.3 |
| HDFC Bank | 34.1 |
| ICICI Bank | 12.7 |
| Bajaj Fin | 11.1 |
| HDFC Ltd | 10.5 |
| Axis Bank | 7.0 |
| Kotak Mahindra Bank | 5.6 |
| RBL Bank | (2.2) |
| SBI | (7.2) |
In terms of valuation change, IndusInd Bank is the best re-rated stock from pre-COVID levels, while SBI and Kotak Mahindra Bank have seen the highest de-rating in valuation multiples.
| Entity | Change in Valuation |
| IndusInd Bank | 56.7 |
| HDFC Bank | 21.8 |
| HDFC Ltd | 5.9 |
| Bajaj Fin | 4.9 |
| ICICI Bank | (0.6) |
| Axis Bank | (1.6) |
| RBL Bank | (5.5) |
| Kotak Mah Bank | (11.7) |
| SBI | (20.0) |
| Entity | Valuation, P/BV, one year forward | |
| 20-Mar-20(Based on that time FY21 BV) | 14-Oct-20 (Based on FY22 BV) | |
| HDFC Bank | 2.48 | 3.02 |
| HDFC Ltd | 3.18 | 3.36 |
| Kotak Mah Bank | 3.26 | 2.88 |
| ICICI Bank | 1.72 | 1.71 |
| Bajaj Fin | 4.36 | 4.57 |
| SBI | 0.84 | 0.67 |
| Axis Bank | 1.28 | 1.26 |
| Indusind Bank | 0.68 | 1.06 |
| RBL Bank | 0.76 | 0.72 |
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Extended bank holiday this week: How to plan your work in advance
May 22, 2024 1:17 PM
Lok Sabha polls: From inheritance tax to Modi successor debate — issues that made headline in each phase
May 22, 2024 11:58 AM
Lok Sabha Election 2024: BJP suspends Bhojpuri actor Pawan Singh for contesting polls as independent candidate
May 22, 2024 11:53 AM
Work, wealth, welfare — Jairam Ramesh lists Congress' three promises to voters
May 21, 2024 6:33 PM