Axis Bank shares fall 5% post Q3 earnings. Should you buy, sell or hold?
Axis Bank shares fell over 5% to Rs 1,034.75 on Wednesday despite higher-than-expected December quarter earnings. Positive commentary from brokerages failed to alleviate selling pressure in top banking counters. Morgan Stanley maintained an ‘Overweight’ stance, while Nuvama maintained a ‘Buy’ view. However, Motilal downgraded the rating to ‘Neutral’ due to growth challenges. Axis Bank reported […]
Hot Stocks: Brokerage view on Axis Bank, Hero MotoCorp, Oberoi Realty and Tata Elxsi
JPMorgan maintains underweight rating on Tata Elxsi with a target price of Rs 6000; Jefferies holds Oberoi Realty with target price of Rs 1341; CLSA outperforms Hero MotoCorp with target price of Rs 4964; Morgan Stanley maintains overweight rating on Axis Bank with target price of Rs 1450
F&O stocks to buy today: ICICI Bank, Power Grid among top 7 trading ideas
The Nifty futures closed negative with losses of 1.86% at 21202 levels on Tuesday. India VIX was up by 7.61% from 13.80 to 14.85 levels. Volatility spiked to 15.4 zones and awakened the bears which led to the weakness across the market.
Sebi gives FPIs 7 months to liquidate holdings if investor data not disclosed: Report
The Securities and Exchange Board of India (SEBI) last year asked offshore funds that have invested more than 50% of their assets under management (AUM) in a single group of companies and have more than 250 billion rupees ($3 billion) in Indian equity markets to disclose their investors.
ICICI Bank weathers margin stress to deliver healthy growth
The stock of ICICI Bank hit a record high on Tuesday notwithstanding the weakness in the broader market following the bank’s stellar performance in the December quarter.
UBI targets 80% recovery by selling over Rs 1,000 cr NPAs
Hotel Horizon’s debt of ₹212 crore is on sale with a reserve price of ₹213 crore, while Supertech Realty’s debt of ₹170.84 crore is open for bids with a reserve price at ₹205 crore.
India likely to benefit from slump in Hong Kong market
Several overseas institutional investors have pruned exposure from Hong Kong H shares and reallocated to other Asian countries given a rising relative risk of China owing to the trade spat with the US, Taiwan conflict, and moderating local economy.
PSUs lose Rs 2.41 lakh crore in a single day
The losses incurred on Tuesday represent almost one-fourth of the gains posted since December 3.
Axis Bank’s Q3 net up 4%, expects a war for deposits
The bank said December quarter net profit rose to ₹6,071 crore, up from ₹5,853 crore a year earlier. Net Interest Income (NII), the difference between interest earned and expended, grew 9% on year to ₹12,532 crore.
Risk-off sentiment, US yields fuel selloff in FPI-heavy stocks
HDFC Bank, with a 52% FPI holding, and IndusInd Bank, with 42%, dropped 15% each since last Wednesday. Zee Entertainment, with a 28% FPI holding, tumbled 36% during this period. Jindal Stainless and Indiabulls Housing, both with a 23% FPI stake each, dropped 13% each.