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The brokerage expects revenues to grow at 12.8% CAGR in FY23-25E.

Goldman Sachs maintained its neutral rating on ICICI Prudential Life Insurance Company post March quarter results but raised the target price to Rs 490 from Rs 460 earlier.

As of 31-Mar-2023, promoters held 41.94 per cent stake in the company, while FIIs held 25.39 per cent and domestic institutional investors had 15.59 per cent.

A total of 908 shares changed hands on the counter till 10:57AM (IST)

HCL Technologies reported a consolidated net profit of Rs 3,983 crore for the quarter ended March. This is an increase of 11% from Rs 3,593 crore clocked in the corresponding period of last year. The net profit beat the ET Now poll estimate of Rs 3,860 crore.

In the NSE list of stocks with a market cap of over Rs 1000 crore, seven stocks crossed their previous 5-year high value at the close on April 20, suggesting bullishness in counters.

Sandip Sabharwal is optimistic about the growth prospects of large banks in India, particularly ICICI Bank. He also highlights the railway investment theme as strong and suggests identifying stocks that can benefit disproportionately. In terms of IT, while there is a definite slowdown that could persist over the following year, there are specific companies with specific projects or businesses that will stand out.

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The midcap and smallcap indices remain strong with risk or hot money still being present in the market, according to Rahul Sharma, Director at JM Financial Services. Sharma expects the market to head towards the 18,000-18,200 mark with a buy on dips strategy for the 17,500-17,400 range. Sharma advises taking profit after the rally in the pharmaceutical sector and to seek re-entry at a lower price.

Based on the latest inflation print, average inflation for FY24 is expected to be lower than RBI’s FY24 forecast of 5.20%. At 6.5% repo, the real rate based on 1-year forward inflation is upward of 130 bps. Hence, the case for a long pause on repo rate at 6.5% has strengthened.