Amber Enterprises was given a buy rating by Jefferies with a target price of Rs 3,120, owing to the expected growth of the domestic AC industry. Financial services company Motilal Oswal downgraded AU Small Finance Bank to a neutral buy with Rs 830 target price due to its rising cost of funds likely to impact its margins. JPMorgan remained neutral on Asian Paints with a Rs 3.128 target price.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.