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"Bitcoin surged above the US$30,800 level in the past 24 hours as crypto markets continued to react to the latest US inflation report. The support for BTC is located at the US$30,400 level, while resistance lies at the US$30,800 level," Edul Patel, Co-founder and CEO at Mudrex, said.

We estimate slippages to remain under control, which, along with recoveries, should improve the asset quality. The restructured and ECLGS books have been resilient, which along with a low SMA book will keep credit costs under control in FY23. Though, we expect a slight uptick in credit costs in FY24.

Global markets too are facing recession headwinds and global GDP growth is likely to be at multi-year lows in CY’23. That said, we have undergone a reasonable time correction of a year and a half.

Money markets are pricing in a 69% chance the Fed will raise interest rates by 25 basis points next month, though a series of cuts are also being priced in from July through to the end of the year, with rates seen just above 4.3% in December.

“Banks, from a slightly longer-term perspective, are in a bit of a sweet spot. When I say banks, I mean, lending financials. The reason I say so is if you look at where they stand today relative to where they come from over the last three-four years, you will notice that they have gone through a large NPA cycle which is now reversing. ”

According to the latest shareholding pattern available with the exchanges, public shareholders own a majority of the stake at 62.68%, while the remaining 37.32% is owned by promoters and promoter groups.

“There are a lot of options in the hospital space. As more and more companies get listed in any space, the valuation of that space tends to derate because the scarcity factor starts to reduce.. Ultimately, companies move on the ROCE they generate and this is not necessarily a space which generates humongous 20% ROC on a sustainable basis. One should be a little cautious on the hospital space.”

“The MF industry has been seeing redemptions because people have been booking profits for their investments over the past years. Minus SIP flows, gross lump sum flows minus redemption, generally it is a negative number. That has made the AUM come down. Also, as the corporate capex cycle revives, corporates which had parked their surpluses have been drawing down.”

Motilal Oswal Mutual Fund (MF), Mirae Mutual Fund and Edelweiss Mutual Fund bought shares of Adani Power while UTI MF and HSBC MF shopped for Adani Wilmar, according to March mutual fund analysis published by Nuwama Institutional Equities.

With the completion of the deal, TV18 (owned by Mukesh Ambani) will hold 50.994% equity stake, while Bodhi Tree will have 0.011% stake in the company. Paramount Global will hold 48.994%. RIL group entities will hold on a 60.37%; TV18 – 13.54%; Bodhi Tree –13.08%; Paramount Global – 13.01% on a fully diluted basis, the release said.