UBS downgraded SBI Cards to a sell rating, setting a target price of Rs 620 due to weak Q1 performance. Nomura kept a neutral stance on IndusInd Bank, reducing the target to Rs 1,580. Morgan Stanley and Macquarie maintained positive views on ICICI Bank, increasing their target prices to Rs 1,500 and Rs 1,300, respectively.
Sugar stocks rally continues: Balrampur Chini, Dhampur Sugar, Uttam Sugar Mills rally up to 4%. Two big triggers
Sugar stocks rallied as domestic sugar prices surged sharply over the past month. Government data showed retail prices rising from Rs 48.18/kg on July 20