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"The auto sector rally should continue but one has to be more stock specific. I would focus on names that are present more in the passenger vehicle and the commercial vehicle space because these two areas should see the highest uptick in volumes and demand as well. We are seeing that in the auto numbers as well that come out on monthly basis."

“We have gone through this process of inviting expressions of interest where 13 large global players participated. We shortlisted four and engaged with them and on the basis of the bid amount and the other factors in terms of strong governance for this ARC, we finally chose JC Flowers ARC to bid for this.”

“We think the services sector is going to lead the demand recovery in India and that is something that is going to add to the momentum as far as the services inflation is concerned going ahead and that is a reasonable part of our Indian CPI.”

ATF prices are revised by oil marketing companies (OMCs) on the 1st and 16th of every month based on rates of benchmark international oil rates in the previous fortnight. The latest price cut marked the second reduction in rates this year. Prices had peaked at Rs 141,232.87 per kl (Rs 141.23 per litre) last month.

The Nifty Bank index closed 1.95 per cent up at 35358.7.

"RBI may protect the level of 80 for some more time before it can allow a break of the same. The trade deficit is very high for the rupee to sustain while importers/ debt companies will keep buying dollars to pay off their payables," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

“I do believe that we will hit the billion-dollar run rate between quarter two and quarter three of this year, we had guided that last September and maintained that. Lastly, we had said $1.5 billion by one of the quarters in FY25, and we are retaining that as well.”

The stock quoted a 52-week high price of Rs 2773.0 and low of Rs 1514.82.

The Relative Strength Index of the stock stood at 61.44 on Monday.

Our trade deficit this fiscal is tracking 8 per cent of GDP on account of higher crude prices (India imports 85 per cent of its crude oil requirement). Our trade deficit is usually around 5-5.5 per cent of GDP.