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The agency said that the small and midsize enterprise sector and low-income households are vulnerable to rising interest rates and high inflation. However, in case of moderate interest-rate hikes, these risks are manageable for Axis Bank.

“The new-age tech concept is good but valuations are still crazy and we are seeing the rush is on. Smart people are selling them off. It is going to end and it is going to end pretty badly for lots of investors including institutional investors who even now are buying at this price. Do not catch a falling knife even if the return goes up. But it is a big falling knife and still has a long way to go.”

Last week a government notification was also issued that increased the maximum tenure of CEO and MD of public sector banks to 10 years from five years earlier. The move will help PSU lenders retain talent.

“Some steel companies have a bigger export market share like Tata Steel and Jindal Steel. Due to slowing demand globally with recession fears, even after removing the export duty and despite the prices of steel both imported and domestic coming back, it does not give any earnings upgrade to Indian Steel companies. ”

The quota reserved for qualified institutional buyers (QIBs) was subscribed 98.47 times while the one reserved for non-institutional investors (NIIs) and retailers was subscribed 21.21 times and 4.1 times, respectively.

The dollar advanced against most major currencies overnight, recouping recent losses, as traders shunned riskier currencies over concerns about the global economic outlook from the COVID-19 curbs in China.

Citigroup maintained a buy rating on Bharti Airtel with a target price of Rs 940. The global investment bank forecasts a 15% consolidated EBITDA CAGR for Bharti over FY22-25E.

“Whilst supplies are tight, the expectation of less demand in the future due to economic slowdown are offsetting tight supplies at the moment. I am expecting oil prices to stay flat to down but not that much because the tight supplies are going to underpin oil prices going forward. We are not going to $40 oil for some time.”

Most of the technical indicators are in a buy mode. Additionally, it gave a breakout from 70-week consolidation which auger well for the bulls. On the price front, the stock price is trading above most of the crucial short- and long-term moving averages such as 5,10,30,50,100, and 200-DMA which is a positive sign for the bulls.

YES Bank Ltd., incorporated in the year 2003, is a banking company (having a market cap of Rs 41716.54 Crore).