The global investment bank believes that the current valuations are at 7.2x FY24E P/B, 46.4x P/E. The valuations do not fully price in headwinds such as pressure on new business, said the note.
Nifty’s short-term trend seems to have reversed down after a reasonable rise from the lows. Immediate support is placed at 22,300 and the weakness below
State-owned Bank of Maharashtra (BoM) on Friday reported a 45 per cent jump in its net profit to Rs 1,218 crore for the March quarter,
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