Positive impactResults
Macquarie bets on banks over NBFCs, sees 18-20% earnings growth in FY28
CNBC-TV18 1 hr ago·14 Oct 2026, 7:06 am
Macquarie Capital has revised its outlook, favoring Indian banks over non-banking financial companies (NBFCs) for the next two years. The firm believes that higher interest rates will help banks improve their net interest margins, leading to better profitability. This shift in strategy suggests a more optimistic view on the banking sector compared to NBFCs.
For investors, this signals a potential opportunity in the banking space. Macquarie remains specifically positive on ICICI Bank, Kotak Mahindra Bank, and State Bank of India. This endorsement could boost investor confidence in these large-cap stocks as they are expected to drive earnings growth of 18-20% in FY28.
Investors should monitor the upcoming quarterly earnings reports to see if these growth forecasts materialize. Keeping an eye on interest rate trends and the performance of the mentioned large-cap banks will be crucial for understanding the sector's trajectory in the near future.
Affected stocks
Bullish2 stocks
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Kotak Mahindra Bank (KOTAKBANK).
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Assessed as a significant, market-relevant update.
- Also mentions ICICIBANK.
Why it matters
A meaningful update for Kotak Mahindra Bank worth tracking. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
