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“Deposits have been our strongest point and we do not rely much on the bulk deposits as it may work out. A large part – 93% of our book is being retail – and it has always been the case. Our ability to garner deposits stands us in good stead. We have to be competitive in term pricing but we are a dominant player in the remittances market and as remittances are going up at Rs 82 or so, we see a material or a meaningful flow in increase in remittances.”

The domestic brokerage said during the September quarter of FY23, cotton as well as yarn prices climbed over 60% and 23%, respectively, YoY

The stock quoted a 52-week high of Rs 94.5 and a 52-week low of Rs 65.2.

“On opex, decline in employee cost was led by lower pension provisions and FB expects cost–income (C/I) to reduce by ~200bps in FY23 over FY22. Plan is to add 30-40 branches per annum. The bank expects C/I to settle near 49% in FY24. Slippages were controlled at Rs 3.9 billion while recoveries were healthy at Rs 3.3 billion.

The logistics solution provider intends to establish its strong presence in the African region in various areas like port logistics, container yard, shipping, and more, which would boost the profitability and topline of the company.

A total of 783,039 shares changed hands on the counter till 01:19PM (IST).

Tata Communications, commanding a m-cap of around Rs 33,490 crore is a midcap company. The company is a digital enabler that equips the fast-growing digital economy. The company offers services to 300 of the Fortune 500 companies given its expertise in cloud, IoT, collaboration, security and network services.

“The Avenue Supermarts stock has held up because many of the funds, PMSs, Mutual Funds who hold the stock do not sell and to that extent, the stock sustains. But I do not think such valuations can sustain. The 20-25% growth stocks trading at 100-110 valuation will never sustain. In the next couple of years’ returns from this stock will be below par in my view.”

Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 1,011.23 crore on Friday, according to exchange data. FIIs have pulled out nearly Rs 7,500 crore from the Indian equity markets in the first two weeks of October on concerns of monetary policy tightening by the US Federal Reserve and other central banks globally, which could hamper global economic growth.

Physical gold buying improved in India last week as prices cooled ahead of Dhanteras and Diwali festivals later this week, while Chinese premiums stayed elevated amid robust demand. In the spot market, the highest purity gold was sold at Rs 50,438 per 10 grams while silver was priced at Rs 56,042 per kg on Friday, according to the Indian Bullion and Jewellers Association.