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“As we move into next year, we still expect double digit earnings growth. There will be periods of volatility and some corrections next year. In the initial period, there would be some amount of correction but as the picture gets clearer, the market clearly looks to scale higher going forward.”

The new facility will incur a cost of Rs 600 crore, which will be funded by the internal accruals. The company will target both domestic and International markets including the US and Europe.

"We see BOB continuing to lead the PSB turnaround story beyond State Bank of India (SBI) on a more diversified/safer book and a more advanced digital strategy. We remain positive on SBI (Neutral) but see a narrowing scope for positive surprises," BofA analyst Anand Swaminathan said in a report on Thursday.

The Mumbai offering may raise between Rs 30 billion and Rs 40 billion, they said, asking not to be identified as the information is private. The IPO may consist of about 75% primary shares and the rest in existing shares, one of the people said.

“As Nifty is retracing earlier gains, weak stocks become weaker. Chambal Fertiliser has breached the rising channel on the lower side which was bearish development on the weekly charts,” Kapil Shah, Technical Analyst, Emkay Global Financial Services and Trainer- FinLearn Academy, said.

Zensar Technologies Ltd., incorporated in the year 1963, is a Mid Cap company (having a market cap of Rs 4890.71 Crore) operating in IT Software sector.

The global cryptocurrency market cap was trading lower around $831.90 billion, gaining about half a per cent in the last 24 hours. However, the total trading volume dropped more than 3% to $60.09 billion.

The death cross is a technical indicator of bearishness. The death cross appears on a chart when a stock’s short-term simple moving average (SMA) crosses below its long-term moving average on the downside.

The Nifty Auto index was trading 0.92 per cent down at 12984.75.

“The fact that Sensex and Nifty are at record closing highs tells us that the buy on dips strategy has worked well in this market. Therefore, this strategy can be expected to work, going forward, too,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.