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“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.

We were in for a long trading day – it started with Nikkei down 4 per cent, FTSE100 followed 5.5 per cent lower and CAC and DAC cracked 7 per cent each. Stranger still is the fact that an attempt to liquidate a 50 billion trade resulted in almost $3 trillion in equity losses worldwide ($30 trillion global equity market then).

The stock traded at a P/E multiple of 23.1, while the price-to-book value ratio stood at 2.55.

The Relative Strength Index of the stock stood at 54.57 on Monday.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 555464.94 Crore).

On Saturday, the private sector lender reported a 50.17 per cent year-on-year (YoY) rise in profit after tax (PAT) at Rs 310.63 crore compared with Rs 206.84 crore in the same quarter last year. Net interest income (NII) for the quarter jumped 32 per cent YoY to Rs 1,850 crore, the private lender said in a BSE filing.

Promoters held 37.4 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 17.55 per cent and 0.03 per cent, respectively.

“The entire billion dollar which we are proposing to raise within the current financial year would be entirely CET; it is not a debt. Currently our CET is around 1.9%, but the bank definitely requires not only to create a buffer but also the growth capital for the future growth.”

The Relative Strength Index of the stock stood at 61.97 on Monday.