Regarding NPAs, the percentage of Gross to net NPAs for ICICI Banks are considerably high at 2.12 and needs to be reduced.
All 3 have excellent Reserves commensurate with their Equity. Thus based on their likely EPS of Next year, which may be around 80 for Axis and HDFC Banks, both of them could be Potential Bonus candidates next year.
P/E wise, HDFC already commands a good P/E of 28.4. ICICI Bank even with slightly inferior performance is at a P/E ratio of 23.35.
Axis Bank is available at P/E of 19.1 and is presently looking cuite heap. Its performances have been excellent for the last several quarters , and specially the q/e 31.03.2010 and it is expected to maintain similar growth in future as well.
There is therefore huge scope for GOOD APPRECIATION in case of AXIS BANK in the medium term with every quarterly result and in the short term as well based on latest result.While all 3 are good BUYs, AXIS BANK appears to be the BEST BUY.
Note : Readers are welcome to offer suggestions,ideas and corrections,if any and these will be duly taken into account and incorporated.