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The Relative Strength Index of the stock stood at 34.82 on Friday.

The banks have also had a bit of a regulatory headwind because the RBI has been quite pre-emptive in terms of regulatory initiatives in recent months, which in the short term is negative for the banks, but in the long run it should hopefully be positive because it means that the credit cycle should be maintained for longer without disruption.

A total of 2,602 shares changed hands on the counter till 12:02PM (IST)

Motilal Oswal Financial Services has buy call on IIFL Finance with a target price of Rs 600. The current market price of IIFL Finance is Rs 535.9.

The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 85.51.

Phoenix Overseas will launch its SME IPO today, aiming to raise Rs 36 crore. The IPO includes fresh equity shares and an offer for sale, with a price band of Rs 61-64 per share. The company is involved in trading and exporting agricultural products and manufacturing fashion accessories. The subscription period runs from September 20 to September 24.

​And though markets are certainly celebrating, from where I sit, a lot of the good news that this rate cut could cement, i.e. the much hoped for soft landing, is already baked into current prices and valuations. So, I would not be at all surprised to see this burst of enthusiasm fade fairly quickly.

The Relative Strength Index of the stock stood at 49.01 on Friday.

RITES Share Price: The company announced a final dividend of Rs 5 per share and a 1:1 bonus share issue earlier in July for its eligible shareholders, while later announcing September 20 as the record date for both in August.

ITD Cementation Share Price: At current market value, a successful deal would be pegged at 5,888.57 crore ($700 million), inclusive of a fully subscribed open offer that will follow a promoter stake purchase.