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“The issue in the past with SBI has been NPA and lower growth rate compared to private sector banks. Now if SBI the balance sheet is in a much better shape and if the growth revival happens, can State Bank of India go to 1.5-1.7 times price to book? That is practically possible.”

In India, the major issuers of bonds are the corporations known to issue a wide type of bonds, the central government that issues both, dated securities and treasury bills along with bonds while the state governments issue the State Development Loans (SDLs) that include only bonds or dated securities.

A total of 466 shares changed hands on the counter till 11:21AM (IST)

Bajaj Consumer Care Ltd., incorporated in the year 2006, is a Mid Cap company (having a market cap of Rs 2391.63 Crore) operating in FMCG sector.

"We expect gold prices to trade sidewys to up for the day with COMEX Spot gold support at $1,750 and resistance at $1,785 per ounce. MCX Gold October support lies at Rs 51,100 and resistance at Rs 51,700 per 10 grams," said Tapan Patel, Senior Analyst (Commodities), HDFC Securities.

The Nifty Auto index was trading 1.78 per cent down at 12792.35.

CLSA maintained its outperform rating on UltraTech Cement with a target price of Rs 7,365 which translates into an upside of over 10 per cent from Rs 6,642 recorded on August 2, 2022.

The currency was trading at 78.7125 by 0335 GMT, which was at the same level as its close on Tuesday. It did however pop to a 78.68 at the open.

The 10-year bond yield was trading at 7.2404%, as of 0340 GMT, after rising to as high as 7.2526% in early trade. It had ended at 7.1962% on Tuesday.

“How can a small bank in any way compare or can compete with the likes of the ICICIs, HDFCs and SBIs of this world? So my vote goes to the largecap banks. I would be totally invested in largecaps until and unless they have a niche financial capability which I do not think Yes Bank has at the moment.”