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The reappointment of MD & CEO removes a key overhang and the next milestone to look forward to would be the progress on the universal banking license, which the bank is now likely to apply for.

SBI MF’s prominent additions during March were HDFC AMC and Kotak Mahindra Bank while its major reductions included Reliance Industries and State Bank of India.

U.S. Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February. Economists polled by Reuters had forecast the CPI gaining 0.2% in March.

I think this is a sector which has underperformed quite considerably for a fairly long period of time. So now the time is coming. The API market in the US seems to have stabilized and has started to do quite well so I think most of the API players in India will do quite well as well.

The Relative Strength Index of the stock stood at 74.47 on Thursday.

Stocks that have given stellar returns this year include Finolex Cables, Cigniti Technologies, Jindal Saw, Sonata Software, Sterling Tools, Nucleus Software Exports, Shilchar Technologies, and Goyal Aluminiums. These stocks have risen 50-85%.

The stock quoted a 52-week high price of Rs 2864.35 and low of Rs 2002.5.

​So, global flows are also slightly more positive on India given the time correction and valuations and meanwhile the earnings growth in India for the corporate earnings growth, they have actually held up reasonably well despite the ongoing consumer slowdown, despite the global issues, etc.

The company is majorly owned by promoters and promoter group with 53.68% stake, while the rest lies with the public. Among the public shareholders in the company, retail investors hold nearly 37% stake.

The brokerage believes near-term outperformance would be restricted for TCS owing to uncertain earnings outlook, CEO transition and global macro headwinds.