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The global brokerage firm believes that the deposit rate war brewing is on the expected lines and margins will peak out in Q3FY23. HDFC Bank and ICICI Bank are its top picks.

A total of 51,910 shares changed hands on the counter till 11:21AM (IST)

The brokerage is optimistic on the sector, driven by its strong tender pipeline, softening commodity prices and expectation of good order-inflow growth.

The Nifty Auto index was trading 0.1 per cent up at 13017.65.

Axis Capital, Citigroup Global Markets, Goldman Sachs and JM Financial are handling the OFS. It is part of the government’s disinvestment target. The Centre aims to raise Rs 65,000 crore through divestment in 2022-23 (April-March).

NTPC, incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 167267.49 Crore) operating in Power sector.

The stock quoted a 52-week high price of Rs 278.1 and low of Rs 181.15.

Promoters held 37.01 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 26.82 per cent and 8.25 per cent, respectively.

The Nifty Pharma index closed 0.67 per cent up at 12883.6.

The US Fed on Wednesday increased interest rates by 50 basis points on expected lines and signalled more hikes ahead to fight inflation. The US central bank raised the interest rate to 4.25-4.50 per cent to the highest level in 15 years.