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Nifty50 and Nifty Private Bank indices both have outperformed the Nifty PSU bank by ~8x and ~11x, respectively. But the recent stock performance of PSU banks has been rather unprecedented. On a YTD basis, Nifty PSU bank index has gained about 34%, while Nifty 50 and Nifty Private Bank index have gained only ~14.25% & ~2.2%, respectively.

Even technical charts are suggesting there is momentum in the sector. Shilpa Rout, Derivatives - Lead Analyst, Prabhudas Lilladher said metals could soon see a turnaround move.

The reasons are two-fold: the focus on profitability has become key criterion investors now seek for new-age start-ups looking to get listed. Secondly, due to reducing liquidity scenarios, public markets have started to give a far lower multiple to such businesses.

Even after a massive valuation correction, stocks are far from screamingly cheap, going by past bear-market bottoms. At the low in October, the S&P 500 was trading at 17.3 times profits, exceeding trough valuations from all 11 previous drawdowns and topping the median of those by 30%.

"So long as oil prices remain contained below $100/bbl, INR should remain range bound. The risk to INR primarily comes from oil prices moving sharply north of $100-110/bbl range, thus forcing RBI’s hand with higher domestic rates to contain external sector risks."

No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling goods and services to Iranian residents, businesses or institutions. The ban includes financial services.

This conversion is said to be critical for the company being able to induct investors and raise funds for expanding its 4G network and outlining its 5G rollout plans.

Of the 17 analysts that updated their ratings post the earnings call, nine of them raised their price forecasts while seven of them maintained the status quo. One trimmed the target. Analysts at domestic brokerage firm Spark Capital remain the most optimistic with a target price of ₹3,249.

The board of Integra Essential other than the results will deliberate on the rights issue. Also, Triveni Engineering and Industries will consider the buyback of shares. Other than that, the board of Mefcom Capital will consider a stock split. Besides, the board of Aarti Surfactants will consider raising funds.

Shares of the state-owned oil and gas refining company closed at ₹203.65 apiece on the BSE, down 3.51% from the previous close. Analysts, on aggregate, have set a price target of ₹251.45 per share over the next 12 months compared with ₹270.14 earlier.