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“What is unique about two-wheelers is the kind of double-digit growth we see. I can confidently say that we will be seeing a growth of somewhere between 20% and 25% in the two-wheeler segment. That can only happen when the entry-level has delivered the requisite numbers. So, that is the good part.”

“A steady ROA expansion has happened in the last four-five years due to the factors which you just mentioned. We feel that we are probably closer to that expansion, like the peak of expansion and now we should start seeing some contraction due to NIMs stagnating or declining and credit cost already bottoming. Now, we would only see some increases in credit cost towards the average.”

The Relative Strength Index of the stock stood at 60.76 on Monday.

A total of 4,422,164 shares changed hands on the counter till 02:10PM (IST).

The company may look to raise Rs 5000 crore ($600.6 million) to Rs 10,000 crore through the issue and may tap the market in the last quarter of this financial year, the bankers added.

“As the tone of the market is sideways, defensive stocks are outperforming and there is the traction which we can see. So, Glaxo can be bought at Rs 1640; Rs 1540 should be the stop loss and Rs 1,745 to 1,850 should be the target. The second one, Glenmark, is again from defensive space. It can be bought at Rs 793; Rs 740 should be the stop loss and Rs 900 to 1,000 should be the target.”

The investor risk reduction access platform, introduced by stock exchanges, will help protect the short-term trading positions, particularly of those investors who do it on a large scale, during instances of a major outage at their broker’s system.

Promoters held 46.09 per cent stake in the company as of 30-Sep-2023, while FII and DII ownership stood at 20.01 per cent and 17.26 per cent, respectively.

The stock quoted a 52-week high of Rs 2796.15 and a 52-week low of Rs 2250.85.

Indian private sector banks made the largest single-session purchase of government bonds in seven years on Friday, including a big investment on behalf of a corporate, traders said.