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The bank earlier in the day reported a 71.79 per cent YoY rise in net profit at Rs 2,022 crore compared with Rs 1,177 crore in the same quarter last year.Rakesh Jhunjhunwala held a 1.96 per cent stake or 35,597,400 shares of the company as of June 30, the same as the March quarter.

The stock quoted a 52-week high price of Rs 442.95 and low of Rs 274.0.

Promoters held 54.9 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 18.21 per cent and 11.55 per cent, respectively.

In the April-May period, when the RBI ramped up forwards intervention, annualized one-year dollar-rupee forward premium slid. That caused importers to aggressively cover their unhedged exposures and exporters to stay away, putting further depreciation pressure on the rupee

Battered Chinese property stocks rallied Monday after Premier Li Keqiang pledged to support developers and hinted at possible state funding at a cabinet meeting.

A total of 563,985 shares changed hands on the counter till 02:10PM (IST)

However, here again there is some hope that it could correct as OPEC increases production. We would track the outcome of the US President’s visit to the Middle East and European purchases of Russian oil. In the event of the Russia-Ukraine war ending, oil prices could drop sharply.

“Other than housing loans, there is a retail business which also has given 61% year on year growth and SME has given 81% year on year growth. These are all the three verticals that we would like to grow in the future for the bank which can help to diversify the micro credit; 26% of micro credit will come on that.”

“Broadly it is the macro story which will probably dominate and not as much of whether it is largecaps or midcaps in IT. Maybe midcaps have a somewhat of an edge in terms of growth, but we are also contending with higher valuations out there compared to the largecaps. So from my standpoint, it is important to see how much the deceleration or slowdown is in the growth in coming quarters.”

Smallcap firm Shri Keshav Cements and Infra (SKCIL) hits its upper circuit limit on Monday after the company announced to increase its capacity. Following the development, shares of SKCIL rallied 5 per cent, close to its daily circuit limit of Rs 128 and just shy of its 52-week high of Rs 131.70 hit in May 2022.