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“The IREDA stock has done quite well. I am sure you know about it. And I think going forward, we feel that a lot of other stocks and the entire other sectors, and especially in the financial space, looks quite promising. One should look at booking profits at this level.”

The dynamic regulatory environment poses manageable challenges, and new product offerings are expected to shape the business mix.

Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 55621.40 Crore).

The dollar index (DXY) was down $0.01 or 0.01% against a basket of six top currencies and hovering around 102.56. The DXY has fallen nearly 1.26% in the past five sessions.

On the technical charts, the RSI of the stock stood at 67.97.

The development triggered a strong investor interest in the stock with nearly 82 lakh shares changing hands on the NSE, while the stock witnessed a 5.20 times spurt in volumes on the BSE.

A total of 12,454 shares changed hands on the counter till 11:52AM (IST)

Jefferies maintained a buy rating on ITC with a target price of Rs 530. ITC’s largest shareholder, British American Tobacco (BAT) not averse to going down to 25% in ITC and seems open to disposing of ITC Hotels.

Positive setup was seen in stocks like IRCTC, Siemens, Zydus Life, Hind Copper, NALCO, Indiabulls Housing Finance, SAIL, Exide Industries, Granules India, BHEL, Bajaj Auto, CUB, IGL, etc. among others.

Based on the idea of Lynch, a custom screen made by MarketSmith emphasizes securities that are trading for below-average prices on a PE or PEG basis that are not already widely owned by institutions.