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The stock has corrected by 26% from its high and is 59x/41.5x its FY2024E/FY2025E earnings.

​SBI, of course, the kind of huge increase in operational cost plus the concerns related to the new norms RBI is coming out with and its impact on PSU banks is impacting SBI and other PSU banks in the short term because what happens is that the lesser write-offs, high margin expansion, etc, will help you at current times when operating expenses went up so much could shield that but as growth slows down and as margins also peak out, high operating cost increases will lead to reduced profitability increases.

​So I think the impact on the listed players would be minimized to the extent that they will benefit from larger flows, I would say, because their costs would be much lower compared to a smaller AMC.

Nazara Technologies, a Gurgaon-based technology company, announced that it has raised $28 million from a group of investors, including Nazara, South Korean digital games developer Krafton, Japanese conglomerate Sony Group, InnoPark India, and JetSynthesis. The funding round values Gurgaon-based Nodwin Gaming at $325 million pre-money, and $349 million post-money. In addition to Nazara, Krafton and JetSynthesis are existing

On the technical charts, the RSI of the stock stood at 72.08.

Zomato is expected to report tepid sequential revenue growth for the quarter ended March, mainly on account of lower food delivery orders. Revenue is seen growing by a meagre 2.2% quarter-on-quarter to Rs 1,991 crore. However, revenues for the quarter are seen growing 64% year-on-year. Losses for the quarter are likely to shrink, when compared with the preceding December quarter, to Rs 345 crore, according to analysts estimates.

On the sectoral front, Nifty IT rose 0.71%, and Nifty PSU Bank surged 0.59%. Whereas, auto, FMCG, metal, pharma, realty and oil & gas sectors opened with cuts. In the broader market, Nifty Midcap 100 fell 0.14%, while Nifty Smallcap 100 gained 0.08%.

The Indian market is expected to consolidate on Friday tracking positive global cues. The S&P BSE Sensex fell more than 100 points while the Nifty50 closed above 18100 levels on Thursday. India VIX was down by 2.33% from 13.10 to 12.79 levels on Thursday. Volatility had sunk in the initial tick but later spiked and caused swings in the market. On the options front, the monthly maximum Call OI is placed at 18200 and then 18

Aurobindo Pharma, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 35144.60 Crore) operating in Pharmaceuticals sector.

Tata Consumer Products is a company that recommends a final dividend of Rs 8.45 per equity share. If approved by the members at the ensuing annual general meeting (AGM), it will be paid within 30 days of its declaration. The dividend declared is 845% on the face value of Rs 1 each, for the financial year 2022-23.