The corporate sector is likely to see a pick-up as the focus on infrastructure will revive owing to the government’s push (70 percent of fresh capex being led by the private sector)," Khara told MOSL. "The domestic market remains fairly strong, which should support growth. SBI does not see any significant challenges to the Indian banking system, he said. However, SBI's Khara believes that the Indian banking system has remained quite resilient thanks to active supervision and higher governance standards set by the RBI. The global banking system has been facing challenges primarily due to liquidity issues rather than asset quality, noted the brokerage, adding that the portfolio duration and concentration of loans/deposits under various categories have also caused problems. SBI is its most preferred pick in the banking space. Post its meeting with SBI Chairman Dinesh Kumar Khara, domestic brokerage house Motilal Oswal also retained its buy call on the stock on the back of a positive margin outlook with a target price of ₹725, indicating a 39 percent upside from its current market price of ₹521.75 (as on March 21, 2023).
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