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According to Siddhartha Khemka, Tata Motors and Ashok Leyland are the preferred picks within the overall OEM space, with commercial vehicles performing particularly well. Although the IT sector has reported weaker results, midcap and tier II companies have reported strong numbers and growth outlooks. Pecking order for tech majors places TCS and HCL Tech in the lead among large caps and Persistent and Cyient among midcaps.

UCO Bank has posted its highest-ever annual net profit of Rs 1,862.34 crore in 2022-23 against Rs 929.76 crore in the preceding fiscal, registering a nearly 100 per cent year-on-year growth, the Kolkata headquartered lender said in a stock exchange filing

Revenue from operations jumped 8% to Rs 4,256 crore for the quarter under review, compared with Rs 3,926 crore in the corresponding quarter of last year.​

BSE Sensex rises 242 points or 0.4%, led by banking, financial, auto and IT stocks. The Nifty Midcap100 rises 0.97%, while the Smallcap100 gains 0.69%. Meanwhile, global stocks fluctuate as investors digested losses on Wall Street and waited for policy announcements.

Mahindra Finance has reported growth in almost every state and every product, with demand for pre-owned vehicles, SME loans and newer segments, such as affluent customers, contributing to its 50% Q1 disbursement growth. The company believes rural sentiments will hold up, despite talk of erratic monsoon and stress in rural economies, and expects asset quality to remain good, primarily driven by genuine customers earning well. The ALM has offset rising interest rates and the company expects to see its tech investments pay off within the next three to four quarters.

The Nifty Bank index closed 0.27 per cent up at 43352.1.

The Relative Strength Index of the stock stood at 59.98 on Tuesday.

Minda Corporation plans to approach the Competition Commission of India to increase its stake in automotive technology firm Pricol to up to 24.5%. Last February, Minda had purchased 15.7% of Pricol via over 1.91 crore shares from the open market, claiming it was a financial investment. Pricol chairman Vanitha Mohan and MD Vikram Mohan, however, hold 36.53% and have no desire to sell. The move comes despite competition in two-wheeler instrument cluster business.

​Here’s the sales data of the top auto companies in India for the month of April 2023.

The option premium pricing for ITM, ATM, and OTM is based on intrinsic and extrinsic values. Extrinsic value is determined by the Black Scholes model and the difference between the current market price and the strike price. ATM options have the highest extrinsic value while OTM options have the lowest. For ITM options, the premium is higher as the difference between CMP and strike price increases. Intrinsic values are added to ITM options. The premium for each option is determined by adding intrinsic and extrinsic values. Other factors affecting premium prices will be discussed in the next lesson.