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BofA Securities maintained a buy rating on HDFC Bank with a target price of Rs 1900. The private sector lender is well-positioned to deliver ahead of market expectations, said the global brokerage.

The open interest in metal stocks is close to multi-year lows. Hindalco and JSW Steel have one of the lowest OI.

The S&P BSE Sensex fell more than 800 points while the Nifty50 closed below 18,500 levels on Thursday.

But the tables are likely to turn in 2023, and mid-cap and small-cap stocks are set to outperform largecap peers, according to Krishna Sanghvi, chief investment officer – equity at Mahindra Manulife Mutual Fund.

Overnight, the Federal Open Market Committee (FOMC) raised its policy Fed Funds rate by 50 basis points to 4.25-4.50% as expected, taking the total quantum of increases in 2022 to 425 basis points, the biggest increase in a single year since the Fed Funds rate became the formal policy target Continue Reading

An offer by ACRE to the country’s largest life insurer had triggered a Swiss challenge auction, ET reported on November 14. ACRE, an ARC backed by Ares SSG Capital, had offered about 22% recovery on LIC’s admitted claims.

It also serves clients in Malaysia, the Philippines, and Hong Kong. The domestic MF segment contributed 70.6% to revenue from operations in FY22. The international and other investor solutions formed 7.6% and issuer solutions contributed 11.6% to the revenue while the rest was from global business services.

“Inflation has peaked, but could remain sticky. This would likely keep Fed hawkish prioritising inflation flight over growth slowdown,” said Nomura’s strategists Saion Mukherjee and Neelotpal Sahu in a note to clients. “The tightening monetary policy could drive major economies into recession and India’s growth will likely be adversely impacted Continue Reading

The brokerage house expects HUL’s earnings per share to rise 13% and values the stock at 60 times its September 2024 earnings, slightly higher than its five-year average to arrive at its base-case target price.

“The NCLT has posted the PVR-Inox merger application for final disposal on January 12, 2023. All the regulatory authorities have filed their reports to the NCLT,” a source close to the development said.