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There are ten series of NCDs carrying fixed coupons and having tenures of 24 months, 36 months, 60 months and 120 months with annual, monthly and cumulative interest options. Coupons for NCDs range from 8.50 per cent to 9.70 per cent per annum.

On the weekly time frame, Nifty50 has closed above its 20-period moving average and that the MACD has started to curl up.

The Nifty Pharma index closed 0.03 per cent down at 13579.9.

“Our four big subsidiaries have scaled up exceedingly well. Axis Finance is in my mind perhaps one of the best performing NBFCs with high ROE, no NPLs. Axis Mutual Fund has continued to go from strength to strength. Axis Capital we discussed. Axis Securities profitability has gone up 10 fold in comparison to what we had two years back. In that sense, the subsidiaries are doing very well.”

On Thursday, the yellow metal settled at Rs 51,712 per 10 grams.

According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 89,143 crore by the end of February, compared to Rs 87,989 crore at January-end.

The Nifty Auto index closed 1.18 per cent up at 10676.85.

The brokerage said it analysed eight PSU stocks and upon analysis, it found the thesis around Indian Bank interesting.

KFin Technologies is majority owned by funds managed by General Atlantic, a leading global private equity investor, which holds a stake of 74.94 per cent. Kotak Mahindra Bank acquired a 9.98 per cent stake in KFin Technologies in 2021.

“We are heading into blocks again and one block cannot afford to be reliant on the other. I focussed on the investment boom in the developed world but China is trying to build lots of capacities, particularly in chips where it is deficient and everybody is preparing now for there to be two blocks that do not trade with each other. What the world really does not get yet is the scale of the capital expenditure boom that is coming, particularly as we invest in a huge scale to reduce our reliance on China, not on Russia.”