RBI had hiked repo rate by 50 basis points thrice after the 40 bps initial hike to start the tightening cycle in April

The National Asset Reconstruction Company’s (NARCL) bid to take over the debt of the twin Srei Group NBFCs is being questioned by some bankers who believe the government-backed bad-loan aggregator, instead of competing with other funds to take over companies, should focus on its mandate: Consolidate bad loans from banks.

As per the report, high inflation and weak demand (both domestic as well as external) are expected to pull down the economic growth to 4-4.5 per cent in H2FY23 from 9.7 per cent in the first half of the fiscal.

“Valuation wise what Maruti has been trading on last 10-15 years average it is already trading above that, so that valuation comfort, which was there earlier in automotive stocks especially Maruti is not there, so I would actually prefer Mahindra & Mahindra in this slot where valuation wise it is Continue Reading

Chart readers say 18700 would be the key level to watch out for as an upside above the same could lead to a fresh uptrend rally till 18800-18850. Resistance is seen at 18600-18500 zone.

The company has slashed its issue size and is likely to raise about Rs 950-1,000 crore through its initial stake sale. However, the company earlier was eyeing to raise about Rs 1,200-1,400 crore via its IPO.

Low cane yield in major states like Maharashtra and Karnataka is one of the major reasons for the drop in sugar output. Reuters has reported that on an average, farmers reported a 15-35% drop in cane yield.

Rate-sensitive stocks were in focus as the RBI is expected to hike repo rate by 35 basis points on Wednesday

“With customers gradually shifting to organised players and given continued struggles faced by its unorganised and organised peers, Titan has a strong runway for growth,” Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

Nifty MNC Index comprises of 30 listed companies in which the foreign promoter shareholding is over 50% (latest holding as of September 2022). These companies usually have low debt exposures. ET Markets analysed the stocks that have gained over 25% in 2022 so far.