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The brokerage reiterate its BUY rating with a TP of INR675 and rate it as its top pick in real estate sector for CY23.

The shares of TVS Srichakra rallied 3.5% to Rs 3,668 in early trade on Friday. However, the stock was trading 0.4% lower at Rs 3530, at 11.34 am. The stock has delivered a return of 111% in the last six months, and it has surged about 80% in the last year.

The growth in its AUM (assets under management) slowed down to 27% YoY/ 6% QoQ in Q3 from 31%/7% in Q2. Growth in new loan booking was also slower at 5% YoY, while the QoQ growth of 15% was due to the impact of the festive season.

On the technical charts, the RSI of the stock stood at 50.22.

Infosys, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 613417.10 Crore) operating in IT Software sector.

Promoters held 46.74 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 15.97 per cent and 15.78 per cent, respectively.

For upstream, net realisations (net of windfall tax) are expected to remain steady at US$73.5-74.1/bbl while gas utilities’ earnings will likely continue to be impacted by weak demand and lower trading margins (for GAIL).

While IDBI Bank is in the process of divestment, with the government having already invited bids for strategic sale, the completion of the same in the current fiscal year remains doubtful.

The combination of weak gas demand, supply shortages caused by geopolitical issues (Gazprom force majeure) and pricing (high spot LNG prices constraining Dahej third party regas offtake) is likely to lead to another weak quarter for GAIL, PLNG and GSPL.

Promoters held 32.5 per cent stake in the company as of 30-Jun-2022, while FIIs owned 25.81 per cent, DIIs 16.05 per cent.