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Key beneficiary of improved digital demand, industry leading revenue growth and healthy capital allocation prompts the brokerage to be positive on the counter.

Foreign banks have a relatively smaller presence in India with a 6% share in total assets, 4% in loans and 5% in deposits. They are more active in the derivative markets (forex and interest rates) where they have a 50% share.

The Nifty IT index was trading 0.01 per cent up at 28718.15.

Chennai Petroleum Corporation, incorporated in the year 1965, is a Small Cap company (having a market cap of Rs 3925.30 Crore) operating in Gas & Petroleum sector.

As of 31-Dec-2022, promoters held 0.0 per cent stake in the company, while FIIs held 15.41 per cent and domestic institutional investors had 4.67 per cent.

The global markets are in a state of nervousness and volatility, with every day bringing a new headline stirring fear. This has caused stock prices to correct, with foreign investors selling stocks. India is still doing well, however, as it has moved on from the 2008-09 financial crisis much further than other countries.

The stock rose and breached the crucial resistance level of Rs 152 in intraday trade on 15 March 2023. If the stock manages to hold the momentum and stays above the said level bulls could push the stock higher in the short term.

Vedanta Resources said it has pre-paid all of its debt that was due for repayment till March 2023, deleveraging by $2 billion in the past 11 months. Further, it is confident of meeting its liquidity requirements for the quarter ending June 2023.

After this equity shares were allotted pursuant to the implementation of resolution plan as approved by NCLT, the aggregate shareholding of the promoter and promoter group in PFL increased to 98.87 per cent of the total issued, paid up and subscribed equity share capital of the company.

"Gold prices bounced back after a pullback seen the other day, as a fresh crisis in the banking sector turned investors turned attention towards the safe haven asset, gold," Prathamesh Mallya, Assistant Vice President - Research, Non-Agri Commodities, and Currencies at Angel One said.