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Axis Securities has picked State Bank of India, Infosys, ICICI Bank, Varun Beverages among a host of other large and midcap stocks as its top picks for the month of April.

The Relative Strength Index of the stock stood at 68.41 on Thursday.

Additionally, as per the company, impact of price hike on NOP retention post the recent hike of ~25% in Family Health Optima (FHO) premium, should be less than 3-5% (also evident from past case studies). This should assuage investor concerns.

This is the first time since May 2022 the central bank has not tweaked interest rates. The RBI has raised interest rates by a cumulative 250 basis points since May in its year-long battle against inflation.

The stock traded at a P/E multiple of -92.88, while the price-to-book value ratio stood at 2.79.

So I am saying one of the things we track is basically how many checks are bouncing for the NBFCs and the SFBs. And there, the number has not gone up at all. As a percentage actually it has fallen to the percentage to the loans.

Going ahead, we believe, while long-term prospects for HNDL are bright, the transitory headwinds might be a deterrent to stock price performance.

The central bank surprised markets by keeping the key policy rate at 6.50%. A large majority of economists, 49 of 62, had said the RBI would lift its repo rate by 25 basis points to a seven-year high of 6.75%.

The 10-year benchmark 7.26% 2032 bond yield was at 7.1987% as of 10:35 a.m. IST, after closing at 7.2750% on Wednesday. The yield fell to 7.1469% after the decision, against 7.2857% before that. The liquid five-year 7.38% 2027 bond yield crashed as much as 16 bps to 7.01% after the policy decision.

Shyam Metalics and Energy, incorporated in the year 2002, is a Small Cap company (having a market cap of Rs 7014.72 Crore) operating in Metals - Ferrous sector.