IndusInd Bank Q3 result preview: Profit, NII to grow in double digits; asset quality stable
IndusInd Bank Q3 result preview: IndusInd Bank is expected to report healthy growth in net interest income (NII) for Q3, with a 16% year-on-year increase. The bank saw a 20% year-on-year growth in net advances and a 13% increase in deposits. The net profit for the quarter is expected to grow by 11% year-on-year. Asset […]
Tech View: Nifty charts call for sell on rise strategy. What traders should do
Nifty on Wednesday ended 460 points lower to form a red candle on the daily charts with a decisive break below the 20-day moving average of 21,629. Both price and momentum indicators are pointing toward weakness.
India’s highest-priced stock just got pricier; MRF shares hit Rs 1.5 lakh mark
In Wednesday’s trade, MRF stock witnessed a total of 27,248 equity shares worth Rs 384.6 crore changing hands on NSE. Other than MRF’s stock, Page Industries (Rs 37,770), Honeywell Automation India (Rs 37,219), 3M India (34,263) and Shree Cement (Rs 26,527) are other highest-priced stocks in India.
Nifty Bank falls 1,800 points to record biggest single-day fall since March 2022
HDFC Bank’s 7.51% intraday fall caused a 4.7% or 2,145 points decline in Nifty Bank, its worst since March 2022. All 12 Nifty Bank constituents were in the red, including AU Small Finance Bank, Kotak Mahindra Bank, Federal Bank, and State Bank of India (SBI). The fall affected Nifty Financial Services, which dropped 3.8% or […]
Technical Stock Pick: 30% rally in 3 months! Breakout from a Saucer pattern makes Coforge an attractive buy
Technical Stock Pick: Coforge Ltd, part of the IT industry, has rallied more than 30% in the last 3 months, breaking out from a Saucer pattern on weekly charts. Experts suggest that the stock may head towards 7000 levels in the short to medium term. The stock hit a fresh record high of Rs 6788 […]
HDFC Bank shares at mouth-watering valuation, say contra buyers after $10 billion loss
CLSA and Axis Securities have raised their target prices for HDFC Bank, while fund manager Saurabh Mukherjea believes the bank’s valuations are attractive. Despite concerns about deposit growth, Mukherjea remains confident in the bank’s solid operational performance and sees potential for further investment. Marcellus, the firm managed by Mukherjea, has significant investments in HDFC Bank.
India’s Oct 1-Jan 15 sugar output drops 7% y/y: Industry body
Maharashtra’s sugar production fell to 5.1 million tons from 6.09 million tons, while Karnataka’s production dropped 12.7% to 3.1 million tons, the National Federation of Cooperative Sugar Factories said in a statement.
LIC beats SBI to earn India’s most-valued PSU crown
LIC surpasses SBI in market cap to become India’s most-valued PSU stock after a solid stock rally. LIC’s market value crosses Rs 5.75 lakh crore, while SBI’s is around Rs 5.65 lakh crore. The finance ministry exempted LIC from the 25% minimum public shareholding (MPS) norms till 2032, reducing the possibility of an offer for […]
Multibagger! IREDA shares climb 5% on signing green power co-finance deal with Indian Overseas Bank
“Indian Renewable Energy Development Agency and Indian Overseas Bank have joined hands by signing a memorandum of understanding (MoU). The agreement sets the stage for co-lending and loan syndication for a diverse spectrum of renewable energy projects across the nation,” the company said in an exchange filing.
Gautam Adani fan raised stakes in these 6 Adani stocks, ITC, Patanjali in Q3
NRI investor Rajiv Jain of GQG Partners has increased his holdings in six Adani Group stocks despite the controversy surrounding the conglomerate caused by the Hindenburg report. GQG’s ownership in Adani Enterprises, Adani Ports, and Adani Green Energy rose, while additional stakes were purchased in Adani Energy Solutions, Adani Power, and Ambuja Cements.