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" In the case of ICICI and Axis, the big run-up has happened. They are trading at their historical price to book multiples. If it continues to do that, you will make that 20-25% return over the next one year or so in each of ICICI and Axis Bank. If you look at the midcap banks, if you look at the NBFCs, they have all derated in the past and now with the valuations catching up, that is where the interest is more right now."

The stock quoted a 52-week high of Rs 2784.95 and a 52-week low of Rs 1593.5.

With just one trading day left in August, benchmarks Nifty 50 and Sensex have lost 1.6% each for the month. This is after clocking 14% gains in the preceding five months.

A total of 6,266 shares changed hands on the counter till 11:11AM (IST)

From the Sensex stocks, Jio Financial Services, Maruti, Tata Steel, HCL Tech, and Tech Mahindra opened higher, while Bharti Airtel, Bajaj Finance, HDFC Bank, and Sun Pharma opened lower.

On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Thursday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%.

Indian market opened higher on Thursday tracking positive global cues. The S&P BSE Sensex rose 100 points while the Nifty50 closed above 19300 levels on Wednesday.

Krishnan sees a strong support at 19,300 with the sheet anchor lying around the 19,250-19,200 zone and 19,500 acting as a strong resistance and only a decisive breakthrough will re-strengthen the undertone in his opinion.

Bernstein maintained an outperform rating on Cipla with a target price of Rs 1262. Cipla is a well-run organization. Blackstone will have to get creative and spin-off businesses to unlock meaningful value.

The latest US data indicated that the pace of employment growth was less than expected in August, raising hopes for easing of interest rates by the Federal Reserve.