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A total of 15,004 shares changed hands on the counter till 01:36PM (IST)

Federal Bank reported its highest-ever standalone net profit of Rs 1,007 crore in Q3FY24, a 25% YoY increase. Additionally, the bank achieved its highest-ever net interest income of Rs 2,123 crore. The net advances at the end of the quarter stood at Rs 199,185 crore, showing an 18% YoY growth. The bank also registered a 24% YoY growth in the retail book and an 18% YoY growth in the business banking book.

To enhance the selection process, only stocks that have seen a price increase of over 25% from the start of December until now were taken into account, resulting in a thoughtfully curated list of eight stocks.

Benchmark indices like Nifty and broader markets are moving slow but steady, with Nifty making new highs almost every week. The rally is expected to continue or sustain, with a possible 200-300 point correction providing buy-on-dips opportunities. Blue chip companies are particularly participating in this rally BHEL is a top pick, showing good momentum and potential for a fresh rally. Canara Bank stands out among PSU banks, with positive momentum indicators and targets of Rs 495 and 510.

The retail portion of the issue was fully subscribed, followed closely by the NII category at 70%. There were no bids in the QIB portion of the IPO.

On the technical charts, the 200-day moving average of the stock stood at Rs 965.68.

A significant uptick in futures open interest signifies a substantial growth in the number of active, unexpired futures contracts in a specific security.

The Relative Strength Index of the stock stood at 40.26 on Tuesday.

The stock quoted a 52-week high price of Rs 1466.0 and a 52-week low of Rs 1120.1.

Vinit Sambre says: “For us, within consumer discretionary, auto has been overweight, but incrementally, we are open to looking at companies within QSR or apparel or a retailer. The way to play rural recovery would be the entry level two-wheeler bikes or the FMCG companies which are more exposed to the rural side of the economy.”