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While the outlook on Indian banks has remained resilient amid rising credit growth in a well-regulated environment, the current predicament for the banking and financial services sector in developed markets has thrown a spanner in the works for Indian software exporters.

“The focus should be on portfolio diversification. The company is witnessing a strong growth outlook in the non-gold business. FY24 target includes 20% consolidated growth supported by non-gold,” BofA said.

Rockstud Capital Managing Partner Abhishek Agarwal predicts that Indian markets will remain range-bound between 17,000 and 18,500 due to factors such as inflation and foreign investors moving out of emerging markets. However, he believes that PSU banks will perform well due to NPAs falling on a quarterly basis and a higher share of the marginal cost of funds based lending rates.

The proposed IPO will have both fresh issue of shares and offer for sale components.

Shibani Sircar Kurian of Kotak Mahindra AMC says Indian markets may remain range-bound and volatile due to the uncertain global macro environment. However, the long-term valuations for India on an absolute basis are back to trend levels and provide some downside support. Companies and stocks that deliver superior earnings profiles and have favourable valuations will be the focus for investors.

The Relative Strength Index of the stock stood at 56.21 on Wednesday.

Mahindra CIE Automotive, incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 13264.73 Crore) operating in Auto Ancillaries sector.

Experts fear crisis may spill over from BFSI to other verticals such as retail and hi­-tech in FY24.

The Relative Strength Index (RSI) is also trading above the 60 mark which is a bullish sign. Volumes are on the rise suggesting that this rally has legs to move up in the short to medium term.

Despite the high cost of capital goods and the performance of the real estate market, which is greatly impacted by interest rate changes, the Head of Research at ICICI Direct recommends companies such as ABB and Siemens as attractive investments. Meanwhile, the Brigade Enterprises is a top pick in the real estate sector due to its strong residential space performance and the low leverage on the residential side. OMCs such as HPCL, BPCL or IOC are also recommended bets given the decline in crude oil prices, provided marketing revenues continue to hold up.