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Net interest income rose 21% over last year to Rs 12,605 crore from Rs 10,431 crore. The net interest margin rose at 4%. The gross non-performing asset (NPA) ratio was at 3. 60%, down 136 basis points over the same period last year. The net NPA ratio declined to 0. 76% from 1. 14%. Additions to gross NPAs stood at Rs 4,204 crore while recoveries, upgrades and the sale of bad loans rose to Rs 4,693 crore.

“We anticipate input pressure in the next two quarters and it will be seen across the board – from automobiles to FMCG, consumer durables or even pharmaceuticals. As a result, at least in the next two quarters, there should be a hit on margins and also may be a miss on expectations.”

The energy space is witnessing strong traction for the last few weeks. The same is evident from the Nifty Energy index, as it is rallying along with the expanding daily & weekly upper Bollinger Bands. We expect this sector to stay on an upward trajectory. The IT sector, on the other hand, had a sharp decline in the last 2-3 weeks.

“Today we are a $25-billion company. There are many companies in the world which are $50 billion, $100 billion in size. So there is no reason why we should not aspire to be double, triple, quadruple times where we are today. The question is how should we go about it? The opportunity is unbounded both on the demand side and on the supply side. We are sitting in a sweet spot.”

Insurance behemoth’s board approves proposal. The company is likely to be valued at Rs 6 lakh crore and a 3. 5% dilution will mean an offer size of Rs 21,000 crore. Earlier estimates had pegged the IPO issue size at Rs 60,000-63,000 crore. However, with markets turning choppy, there is a sense that a bigger issue would be difficult to sell.

The upsides, if any, are likely to stay capped at 17,500 levels. On the lower side, violating 17,000 would mean some incremental weakness for the markets. The levels of 17,350 and 17,535 will act as immediate resistance points for Nifty. Supports are likely to come in at 17,000 and 16,880 levels.

A day after Future Group’s proposed deal to sell its assets to Reliance Retail was rejected by a majority of lenders to flagship Future Retail Ltd (FRL), Reliance Industries in a stock exchange intimation has said that as such, the subject scheme of arrangement cannot be implemented.

​Sequentially, the net profit rose 13.32 per cent from Rs 6,193.81 crore.

“One should take a call and look at a few midcap IT companies like both L&T twins which have corrected almost 20 per cent from their peaks,” said Rahul Shah.

Richard Demille Wyckoff was a pioneer in studying the stock market using technical analysis in the early 20th-century and is regarded as one of the five “gurus” of technical analysis, along with Dow, Gann, Elliott and Merrill.