Mutual funds raise stake in TCS, Infosys, 2 other IT stocks; FIIs cut. Who’s smart?
In the June quarter, mutual funds boosted investments in leading IT stocks like Infosys and TCS, while FIIs reduced their stakes. Experts highlighted improved profits and positive future prospects driven by BFSI recovery and AI advancements.
PNB shares rally 7% after reporting 159% YoY jump in Q1 profit. Should you invest?
PNB Share Price Target Buy or Sell: Punjab National Bank’s shares surged 7% after announcing a 159% YoY jump in net profit for Q1 FY25, reaching Rs 3,252 crore. Net interest income rose by 10% to Rs 10,476 crore. The bank saw improvements in asset quality and a YoY deposit growth of 8.50%. Brokerages had […]
ICICI Bank shares rise over 2% as Q1 performance impresses Street. Should you invest?
ICICI Bank Share Price Latest Updates: ICICI Bank’s stock surged 2.5% following a reported 14.6% increase in its June quarter’s standalone profit. Analysts praised its strong earnings, stable asset quality, and lower-than-expected slippage. Companies like Morgan Stanley and Nuvama raised target prices, showing confidence despite some margin pressure. The bank’s consistent performance continues to inspire […]
RNFI Services shares list at 90% premium on NSE SME platform
RNFI Services’ shares launched with a 90% premium on NSE SME. The IPO saw an overwhelming response, being subscribed over 200 times. The company provides diverse fintech services across India, focusing on financial inclusion. India’s fintech market is set to grow from $50 billion in 2021 to $150 billion by 2025, with significant potential in […]
Bandhan Bank shares hit 10% upper circuit as target prices rise after Q1 beat
During the quarter, Bandhan’s NIM remained stable at 7.6% QoQ. The assets under management (AUM) and deposit growth showed a YoY increase of 22-23%. Asset quality improved as the net non-performing loan (NPL) ratio stayed unchanged at 1.2% QoQ, despite the gross NPL ratio rising by 40 basis points (bps) to 4.2% QoQ. Additionally, slippages […]
Nifty Bank looks headed for bullish reversal towards 52,500: Rupak De
Nifty had a decent rally on Friday following a period of downward consolidation in the previous few sessions. The index sustained above the 21 EMA at closing, setting the stage for solid gains in the near term. Banks, which had not been supportive in the last few sessions, came in with their full support.
IDFC First Bank tumbles 3% after Q1 results. Should you buy, sell or hold?
IDFC First Bank reported a broadly in-line set of numbers with strong business growth and better cost income though higher credit costs. NIM was down 13bps QoQ to 6.22%, mostly on higher growth in investment and rise in LCR (to 118% vs. 114% QoQ).
Hot stocks: Brokerage view on SBI Cards, IndusInd Bank and ICICI Bank
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.
F&O stocks to buy today: BPCL, Bharti Airtel among top 6 trading ideas
The Indian market was expected to trade higher on Monday due to positive global cues. The Nifty Future closed with a 1.88% gain on Friday. Analysts suggested a broader trading range between 24,500 to 25,300 zones. Stock recommendations from experts included India Cements, Sonata Software, and BPCL, among others, with specified target prices and stop-losses.
Ultratech Cement among 11 stocks to trade ex-dividend on Tuesday. Last date to buy today
Earlier in the month of April, Ultratech Cement’s board had declared a dividend of Rs 70 per share for all its eligible shareholders.