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Given that the credit-to-deposit (CD) ratio for the banking system is expected to continue firming up, overall gross bond issuances is expected to create an all time high of Rs. 1.3-1.4 lakh crore by the end of the current fiscal year, domestic rating agency ICRA has estimated.

U.S. yields tumbled on Friday after data showed domestic wages rose less than expected last month and new jobs increased more than expected, while service-sector activity shrank for the first time in more than 30 months.

The reviving credit growth, better margin prospects, lower FPI ownership, lower imminent risk of a rise in credit costs, and the large valuation discount makes public sector bank stocks a preferred bet for Credit Suisse over private banks.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

The Relative Strength Index of the stock stood at 54.94 on Monday.

According to the company, the combined production includes output of jointly controlled entities Bhushan Power & Steel Ltd (BPSL) and JSW Ispat Special Products Ltd (JISPL), and offshore entity JSW Steel USA Ohio.

“We do not expect our risk profile of the portfolio to change pre Covid and post Covid. Also pre Covid, our average annual credit cost used to be in the range of 1 to 1.1% which went up during the Covid period, This year it is seeing a little bit of normalcy and is around 1.5%. We aim to get our credit cost back to that 1.1 to 1.2% level.”

Asset quality performance has been strong with continuous improvements in slippages and headline asset quality ratios with restructured book being under control at 0.9%.

A total of 22,585 shares changed hands on the counter till 02:09PM (IST)

As of 30-Sep-2022, promoters held 63.22 per cent stake in the company, while FIIs held 24.03 per cent and domestic institutional investors had 3.78 per cent.