These 3 banking stocks give multibagger return in 6 months. Do you own?

South Indian Bank: The private lender reported a net profit of ₹102.7 crore in the quarter ended December, compared to a net loss of ₹50 crore in the same period last year, and a profit of ₹223 crore in the September quarter. Its total operating income increased about 13% to ₹1,898 crore from ₹1,671 crore year-on-year (YoY).

Karnataka Bank: Karnataka Bank witnessed a growth of 105% in its net profit for the third quarter ended December 2022 to ₹301 crore as compared to ₹146 crore during the same period last year. The asset quality improved as gross non-performing assets (NPA) declined to 3.28% from 3.36% as compared to the sequential previous quarter and net NPA also dipped to 1.66% from 1.72%.

“Strong NII growth in Q3 and lower opex kept operating performance strong for Karnataka Bank with its C/I ratio holding below 50%. Strong PPOP combined with moderate provisions kept profitability strong with the RoA coming at 1.21%. Asset quality and PCR slightly improved. Ahead, with credit growth picking up and moderating credit costs, earnings are expected to be strong with RoA expected to stabilise at ~1%,” said brokerage house Anand Rathi. The multibagger stock has nearly doubled in value in the last six months.  

UCO Bank: Kolkata-based UCO Bank posted a profit of ₹653 crore during Q3, 110% higher than ₹310 crore in the third quarter of the previous fiscal. The bank stock has given multibagger return of more than 115% in the last six months period, from trading at ₹11 per share level to currently hovering around ₹25 apiece on the BSE.