Business Today •
Elara Securities favours large private banks for resilience amid MSME challenges, with Buy ratings on HDFC Bank (₹976), ICICI Bank (₹1,783), and Axis Bank (₹1,629).
PSU banks like SBI (₹1,209) and BoB (₹314) are Accumulate calls. MSME loan growth has slowed, with sharper declines in micro-segment loans.