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“The next two, three years remains positive for the PSU banking space. Even in some housing finance companies, while their liabilities are fixed in nature, their assets, which are the loans that they give out, are variable. As a result, in a rising interest rate environment, they will see expansion in margins. Private sector banks remain lucrative. This is a buy on dips, not a sell on rallies kind of space.”

The next few weeks will be crucial for fundraising. If it fails, the issuer’s B- credit rating, already deep in the junk-bond category, could come under pressure, S&P said this month. Adani’s net debt pile of $24 billion may be three times as large as Agarwal’s, but his bonds are still rated at the lowest rung of investment grade.

“Starting from banks to small finance banks to the corporate FD, the range is pretty huge. Even in the case of corporate FD, one will get as high as 8.3%; in some small finance banks, you will get as high as 9%. Senior citizens will get 25 bps more even. So, in my opinion, for 18 months to 24 months, investors should invest in FDs as one of the asset classes.”

“Repaying in the earlier part of a loan makes more sense. It is more saving in terms of the interest that you will have to pay over the life of the loan. So shifting some amounts which are maturing in an FD or if you have some amounts which you might be thinking of putting in an FD towards this kind of repayment, makes sense and is a smart strategy.”

According to StockEdge data, Adani Enterprises, Tata Motors, Ceat, Ashok Leyland and Lemon Tree Hotels turned profitable in Q3FY23.

From the Sensex pack, Tech Mahindra, Airtel, Infosys, Maruti and Tata Steel were the top laggards, falling over 1%. On the other hand, Asian Paints, Nestle, SBI, Titan are trading in green.

Correction arrested as indicated by a bullish reversal candle stick with a positive divergence on RSI.

The stock quoted a 52-week high price of Rs 115.63 and a 52-week low of Rs 83.0.

The brokerage believes gaining efficiency over business will help the company to get more profitability and higher return ratios.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.8% last month, according to the Commerce Department. Economists polled by Reuters had forecast consumer spending rebounding 1.3%.