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"SBI remains a top pick along with ICICI Bank and HDFC Bank. All three look quite interesting. Financials have been performing well in terms of credit growth. So I think it is a pretty decent performance. There should be some relating in all the banks and again, we should see some fireworks in most of the banks which I have spoken about."

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Shares of Ipca Labs opened 9% lower after the company approved entering into a definitive share purchase agreement for the acquisition of a 33.38% stake of Unichem Laboratories for Rs 1034.06 crores. Mahindra Lifespace Developers opened over 3% higher after the firm was selected as a partner to redevelop a residential society in Mumbai that offers a revenue potential of about Rs 8.5 billion.

A total of 57,496 shares changed hands on the counter till 10:15AM (IST)

"Banks continue to show strength in terms of numbers. We saw ICICI Bank that came out with a very good set of numbers. It should get further rerated. A bank to clock, you know, 2.2-2.3% ROA consistently with great asset quality metrics, with very impressive growth both on NIMs as well as on the liability side as well as shaping the book coming from 60% exposure to corporate loan side five years back now to almost two third book being retail."

As of 31-Mar-2023, promoters held 74.36 per cent stake in the company, while FIIs held 14.66 per cent and domestic institutional investors had 3.71 per cent.

The brokerage reiterates BUY with Mar’24 TP of INR 100 (18x FY25e EPS). Global slowdown and continued inflationary pressure are the key risk

The stock traded at a P/E multiple of 67.03, while the price-to-book value ratio stood at 8.49.

So, I think these are some of these long-term issues which are linked here. We all know that in the startup ecosystem, organisations are today under various kinds of pressures.

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