Nifty Bank index may rise up to 2.25% once hits a new historic peak, shows technical charts
Technically, State Bank of India's shares are well placed above the breakout mark of Rs 565 from a short-term to medium-term perspective.
The gain in NASDAQ thus far in CY23 was largely fueled by Google, Apple, Amazon, Netflix and Meta Platforms - also known as the FAANG stocks.
Nifty 12-month forward PE is around 23 per cent below peak. Indian equities should find support from robust earnings outlook owing to strength in the domestic economy.
Slowdown in revenue growth, spike in interest expenses hit Q4 earnings
The bank's Q4 net zoomed 134 per cent to Rs 802.62 crore from Rs 342.73 crore in the year ago period.
The company will also announce its March quarter and FY23 earnings on Thursday.
The S&P BSE Small-cap and Midcap indices have surged around 6 per cent and 4 per cent, respectively, as against a 2 per cent gain on S&P BSE Sensex so far in FY24.
CLOSING BELL: Among buzzing stocks, shares of RVNL were locked at 20 per cent upper circuit, RITES zoomed 9 per cent, and Texmaco Rail 7 per cent
Nifty50 firms may show 15.6% earnings growth, say brokerages; revenue growth to disappoint
Short interest in First Republic indeed increased as turmoil in the banking sector intensified, although measures vary
The growth could be a challenge in Q1FY24, too, not just because of the cautious customer behavior but also due to the added issue of productivity concessions kicking in, says Nirmal Bang in a note.
Adani Ports, Hindalco among stocks with 100 per cent 'Buy' rating by analysts.
Banks account for most of incremental growth in India Inc earnings
With a modest 1 per cent increase in duty on cigarettes and improving outlook for FMCG and Hotels, brokerages think ITC is well positioned for a strong FY24.
Earlier in November 2022, Morgan Stanley had reiterated its stance on the Indian markets and said that the bull-run remained intact. Back then, they expected the Sensex to hit 80,000 levels by Dec '23
Interest expense rises at fastest clip in 17 quarters in Q3
Company says specialty products will continue as growth driver, will scale up investment for it
In the slow lane: 2.5% rise in profit the least in 10 quarters
Stocks to watch today: Metals and mining major Vedanta will acquire debt-laden power plant Meenakshi Energy for Rs 1,440 crore