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BofA Securities maintained a buy rating on HDFC Bank with a target price of Rs 1900. The private sector lender is well-positioned to deliver ahead of market expectations, said the global brokerage.

“I have a good seat on the table and therefore I am able to see the effect of digitalisation and technology and policy maybe a few years in advance. I am seeing that the prospects for India have improved as it is moving into this healthy balance sheets and digitalisation.”

First it was FSN E-Commerce Ventures Pvt., the owner of beauty e-retailer Nykaa, which announced a bonus share issue to coincide with the expiry of an IPO lockup on key investors in November that risked extending the stock’s slump.

Gold futures on MCX were trading mildly lower by 0.09% or Rs 50 at Rs 54,057 per 10 grams. Silver futures tanked 0.36% or Rs 244 at Rs 67,574 per kg.

Currently, the stock is trading above its mean+1*sigma levels where the brokerage expects it to witness fresh buying interest on dips. The brokerage expect it to cross its life-time highs.

Promoters held 42.42 per cent stake in the company as of 30-Sep-2022, while FIIs owned 19.07 per cent, DIIs 18.2 per cent.

The Nifty Auto index was trading 1.29 per cent down at 12746.6.

A total of 11,167 shares changed hands on the counter till 11:26AM (IST)

Further, it has witnessed significant directional move after breaching its mean+2 sigma levels in the past. The recent up move above Rs 860 is likely to extend the positive bias in the stock.

Bharat Forge stock price recently gave a breakout from a cup and handle pattern on the weekly scale and is sustaining above the same. It recorded a strong bullish candle last week which is a positive sign for the bulls