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“Two stocks that one could look at are IDFC First Bank and Tata Consumer. In the case of IDFC First Bank, the Q1 numbers have been very encouraging. It is a recovery story and it is now being supported by good numbers. Tata Consumers is a long-term buy with a target of Rs 900,” says Sharmila Joshi

On the technical charts, the RSI of the stock stood at 54.71.

Unlike NSE which considers shareholder nod for rejig, BSE does it only closer to the effective date of the merger. “Going by the current pace of approvals and as per our ballpark estimate, HDFC Ltd will continue to be a member (of Sensex) till the entire process is over (around Q1 FY24),” the report said.

As of 30-Jun-2022, promoters held 0.0 per cent stake in the company, while FIIs held 14.91 per cent and domestic institutional investors had 14.81 per cent.

Shares of Electronics Mart India jumped to Rs 91 before dropping to Rs 83.25 on BSE, its intra-day lows till 11.45 am. Market analysts remain divided about any immediate move over the listing price. They unanimously suggest to avoid making a fresh entry on the counter.

The lender was able to reduce gross non-performing assets (NPAs) to 3.40 per cent of the gross loans at September-end 2022 from 5.56 per cent a year ago. Likewise, net NPAs or bad loans came down to 0.68 per cent from 1.73 per cent at the end of the second quarter of the previous fiscal.

The manufacturer of the Pulsar and Platina motorcycles sold almost 1.2 million vehicles during the quarter, 23 per cent more than the preceding quarter and 1 per cent higher than a year earlier. Domestic sales almost doubled quarter-on-quarter (QoQ) to more than 6,94,000 units. Exports declined 21 per cent sequentially to 5,81,000 units as the global economy faces headwinds.

“Deposits have been our strongest point and we do not rely much on the bulk deposits as it may work out. A large part – 93% of our book is being retail – and it has always been the case. Our ability to garner deposits stands us in good stead. We have to be competitive in term pricing but we are a dominant player in the remittances market and as remittances are going up at Rs 82 or so, we see a material or a meaningful flow in increase in remittances.”

The domestic brokerage said during the September quarter of FY23, cotton as well as yarn prices climbed over 60% and 23%, respectively, YoY

The stock quoted a 52-week high of Rs 94.5 and a 52-week low of Rs 65.2.