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The fund raised through the AT1 bonds will support the business growth of the bank, it added.

"The policymakers are concerned over inflation, which means more hikes are in the offing," said Debendra Kumar Dash, senior vice president, treasury, at AU Small Finance Bank.

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At the summit, while reiterating that cryptocurrencies have no underlying value and pose serious risks to macroeconomic and financial stability, he underscored that private cryptos should be prohibited.

“Nifty will tend to move to a new high over the next 12 months. India holds a concrete advantage over other markets, and India’s manufacturing will gain from production-linked incentives and global re-shoring,” Yes Securities said.

In the Sensex pack, M&M, Bajaj Finserv, IndusInd Bank, and Tata Motors were the top laggards, falling over 2% each.

“Use fall to buy into hotel stocks. The next three-four years are good for most of these hotel stocks and they have got bought into a lot. On any sign of negativity, they get sold off the most. That is happening now. Overall, as a longer term view, it is good for them to accumulate and keep on accumulating over the next few weeks.”

The company was reportedly exchanging hands at a premium of Rs 50-55 apiece, compared to its issue price of Rs 54, signaling a listing pop of about 100% for the allottee. However, its premium stood at Rs 75 at peak.

Overseas investors bought $6.6 billion worth of bonds in India, Indonesia, Malaysia, South Korea and Thailand after withdrawing a net $3.2 billion in the previous month, data from regulatory and bond market associations showed.

During 2017-22, corporate profit growth across sectors bounced back smartly, propelled by tax rate cuts, reduction in the banking sector NPAs and post-pandemic tailwinds after a weak two-year base.