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Buy Indian Bank, target price Rs 309: ICICI Direct

Updated at : 2023-03-31 11:20:04

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Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 36254.79 Crore).

Keep in mind that a decade ago the world’s finest bubbly accounted for a mere 2% of secondary market trades on Liv-Ex. That share climbed to make it the third most-traded region behind Bordeaux and Burgundy (at 18.7%) in Nov. 2022, and remained in third position until US wines spiked during the week of March 17-23.

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He noted a sharper-than-expected slowdown in February inflation reported this week meant it was likely that consumer prices for the entire first quarter would undershoot RBA forecasts and allow time for an extended pause.

India and Switzerland have been on watch since 2021 for possible inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI) and World Government Bond Index (WGBI) respectively, while South Korea was added to the WGBI watch list in September 2022, FTSE Russell said.

Dalmia Bharat is India’s fourth-largest installed cement manufacturing capacity with a legacy of eight decades. The company possesses of 37MT spread across 14 manufacturing plants in 10 states with addressable market spanning in 22 states in east, northeast, and southern India.

Since it’s the beginning of the new series, Options data is scattered at various far strikes in the monthly series. On the Options front, the weekly maximum Call OI is at 17000 and then towards 17500 strikes while the maximum Put OI is placed at 17000 and then towards 16800 strikes.

According to Peter Cardillo, Chief Market Economist at Spartan Capital Securities, the US is likely to face a mild recession in the near future. However, Cardillo reiterates that regulators must regulate the banking industry without over-regulation, which would negatively affect future corporate earnings. He predicts that corporate earnings will be impaired but not crippled. A recession will cause earnings to cool off in Q2 or Q3 of this year. The regulations are expected to be similar to those post the 2008 banking crisis.

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From the Sensex pack, HCL Tech, Reliance and Tech Mahindra were the top gainers, rising over 2%. ICICI Bank, Power Grid, Nestle, M&M and Tata Steel also opened with gains.

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Broke above consolidation zone of 74,60-6700 and sustaining above 20, 50, 100 and 200 SMAs .

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At the interbank foreign exchange market, the rupee opened higher at 82.12 and stayed in the green in early trade. It moved in a range of 82.16 to 82.10 in early deals.

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