Gold standard, macro play and a nimble elephant! Anand Rathi’s banking trio offers upside potential up to 21%

Banking Picks: Anand Rathi favors ICICI Bank (gold standard), Axis Bank (macro play), and SBI (nimble elephant) for up to 21% returns.

Growth Drivers: Regulatory easing, tax-led consumption boost, and government capex expected to drive credit growth to 13% in FY26.

Stock Targets: ICICI Bank (Rs 1,564, +17%), Axis Bank (Rs 1,310, +19%), SBI (Rs 930, +20.4%).

Sector Outlook: Large banks benefit from strong deposits and tech readiness, while smaller banks face challenges.