The unexpected move by the Reserve Bank of India (RBI) to leave interest rates unchanged bolstered Dalal Street bulls who were reeling under the global economic and financial uncertainties. The Nifty Bank outperformed Nifty50 and moved past the 41,200-mark. The banking sector gauge rose for the 7th straight session, and this is the longest winning … Read more
Shares of Bandhan Bank declined for the third consecutive session on Tuesday to hit a near 3-year low and were the worst hit on the Nifty Bank index. In 3 sessions, the stock has lost more than 14%. The fall in trade today was backed by significant volumes of more than 17 million shares, more … Read more
NEW DELHI: Following signs of improvement in ‘s asset quality in the December quarter, Jefferies said shares of the Kolkata-based private lender could re-rate as the valuations are now attractive. The global brokerage firm sees an upside potential of up to 40% to Rs 340 on the bank stock in the next 12 months. In … Read more
Domestic brokerage firm maintained its buy rating on KNR Construction, Equirus initiated a long call on , and Phillip Capital initiated coverage on . We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Motilal Oswal on KNR Construction: Buy| Target Rs 310| LTP Rs 247| Upside 26%Motilal Oswal … Read more
In its upcoming semi-annual list of stocks, Association of Mutual Funds in India (AMFI) is highly likely to downgrade and One 97 Communication ( Paytm) from largecap to midcap category, according to a report by . The AMFI rejig will majorly be classified by size, taking into account data from July to December 2022. This … Read more
Kolkata: Bandhan Financial Holdings Ltd’s (BFHL’s) plan to enter into the mutual fund business has crossed another hurdle with market regulator Securities & Exchange Board of India giving no-objection to its purchase of IDFC’s stake in IDFC Asset Management Company. Sebi‘s approval letter was issued on November 29. The Reserve Bank of India and Competition … Read more
Mumbai: Varun Beverages, , , and are likely to find a place in the large-cap category in the Association of Mutual Funds in India’s (AMFI‘s) semi-annual re-categorisation. , Metro Brands, , and Fine Organic are expected to enter the mid-cap category, according to Nuvama Alternative & Quantitative Research. AMFI will officially announce the new list … Read more
The Indian markets closed in the red for the third consecutive day and formed a bearish candle on the daily and weekly charts, which suggests bears could remain in control in the coming week. The market saw a knee-jerk fall, largely in line with the weakness seen in the US and Asian markets. The S&P … Read more
Nifty Bank continued to outperform the headline index Nifty on Monday by rallying 385 points or about 1 per cent higher to end the day above its immediate hurdle at 39,800. All the stocks in the index ended in the green, with , , and rising between 2-5 per cent. Here’s how analysts read the … Read more
Indian markets opened on a subdued note on Thursday tracking muted global cues. The S&P BSE Sensex fell over 100 points while the Nifty50 held on to crucial support of 17,900 levels in the first 15 minutes of trade. Sectorally, buying was seen in realty, utilities, power, consumer discretionary, and consumer durables while selling was … Read more