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The Reserve Bank of India will likely set cutoff yield for 10-year state development bonds being auctioned on Tuesday between 7.68% and 7.71%, according to the median in a Reuters poll of 10 traders. Five Indian states aim to raise an aggregate 68 billion rupees ($851.38 million) through sale of bonds maturing in 10 years to 24 years

The IPO of DreamFolks Services will close for subscription on Friday, August 26.

Adani Ports and SEZ stock was trading 2 per cent lower at Rs 825 while Adani Total Gas was 1.5 per cent lower at Rs 3,322.10. Adani Transmission stock was down nearly 3 per cent at Rs 3,382.

As of 30-Jun-2022, promoters held 0.0 per cent stake in the company, while FIIs held 37.27 per cent and domestic institutional investors had 32.58 per cent.

“We saw that post-pandemic, two very major shifts happening in the Indian economy which is going to create massive amounts of wealth over the next 5-7-10 years. One of them is manufacturing. The second shift is that every company globally and locally is forced to spend a lot more money on technology than they have ever spent. This is a five- ten-year trend where the spend on manufacturing and IT is going to increase and these are the structural opportunities.”

The stock traded at a P/E multiple of 37.38, while the price-to-book value ratio stood at 3.81.

“Indian equities are still attractive as the structural drivers like higher capital spending on infrastructure and asset-building projects that are multipliers for growth pickup in manufacturing and services activities are in place,” Anil Rego, Founder and Fund Manager, Right Horizons, said.

On the technical charts, the RSI of the stock stood at 54.38.

The net interest income (NII) growth was healthy with a positive outlook on margins. The net interest margins (NIMs) exhibited mixed trends with stable to improving trajectory for large private/PSU banks while small/mid-size banks posted a decline.

The pan-European STOXX600 fell for a third straight session, down 0.2% to hover near one-month lows. Energy was one of the only few sectors in the black, rising 1% as crude prices rose on concerns over tight supply.Benchmark gas prices in the European Union surged 13% overnight to a record peak, having doubled in just a month to be 14 times higher than the average of the past decade.