Latest Stock Market News

Brokerage firm Nomura is bullish on a few bank stocks, and its top picks include ICICI Bank, Axis Bank and IndusInd Bank.

A total of 21,605 shares changed hands on the counter till 01:12PM (IST)

Promoters held 0.04 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 8.45 per cent and 12.16 per cent, respectively.

IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 51952.26 Crore).

Stocks of Landmark Cars, Sterling and Wilson Renewable Energy, and East Trip Planners witnessed a surge in their prices on Friday following multiple block deals, with the shares rising between 6.5% and 4%. Reports suggest that block deals worth Rs 293 crore took place in Landmark Cars, with 44.56 lakh shares exchanging hands, while nearly 35 lakh shares were transacted in Sterling and Wilson worth Rs 103 crore. On the other hand, Easy Trip Planners only witnessed a transfer of 3.6% of its equity, with nearly 62.6 million shares being involved in the deal.

​I think this applies to not just India, even globally also, I think, versus the fears of a recession in Europe, US. What we are witnessing is a fairly strong resilience across the world.

In the last five years, the Sensex has given positive returns to investors in the second half of the calendar year with double-digit returns in the last three years, making it an attractive investment destination. Additionally, all sectoral indices have given positive returns in the second half in the past three years, with 10 of the 15 sectoral indices on BSE giving double-digit returns in H2 of 2022, including the banking, commodities, and financial services sectors. On the macroeconomic front, foreign inflows are expected to continue despite risks from a weak monsoon and global risks impacting FII flows.

​Yes, I think our per capita consumption is very low so to that extent we will continue to see demand going at let us say 5-7% both for residential as well as the industrial usage.

So our last year was good. We did 400% growth, although the yardstick was pretty small. But we would like to continue with a 300% year-on-year growth, both on the revenue as well as on PAT. So that is the numbers we are looking at.

Jefferies and Kotak Institutional Equities have recommended a "Buy" on HDFC Life Insurance Company with a projected 20-28% upside. The optimism is based on its current business performance and growth outlook. Jefferies and Kotak are anticipating a higher than industry average annual premium equivalent growth rate for HDFC Life Insurance Company. Kotak considers HDFC Life a "conviction" buy. Meanwhile, low sensitivity to interest rates also positions life insurance companies better than banks, says Jefferies.