Bank Stocks:
Banks have requested the RBI to extend the recasting window by another year for all categories of borrowers, sources said.
The Nifty Bank was flat in late morning deals. Here’s how its constituents fared:
| Stock | Change (%) |
| RBLBANK | 0.9 |
| BANDHANBNK | 0.5 |
| AUBANK | 0.5 |
| SBIN | 0.1 |
| PNB | -0.1 |
| KOTAKBANK | -0.4 |
| HDFCBANK | -0.4 |
| FEDERALBNK | -0.5 |
| ICICIBANK | -0.5 |
| AXISBANK | -0.9 |
| INDUSINDBK | -1.2 |
| IDFCFIRSTB | -1.4 |
IT Stocks:
Market master Mehraboon J Irani said L&T Infotech and L&T Technologies detailed awesome quarterly numbers. However both the stocks stay costly, any remedy will give a purchasing an open door, he said. “Notwithstanding the numbers, I am not in a rush to purchase a large portion of the midcap IT stocks right now,” he said.
Irani said he would search for the ideal time to enter midcap IT. Two or three stocks that stand apart with clear revelations set up are Zensar Technologies and Firstsource, he said. “In any case, IT is an incredible story with super numbers however I am not in a rush to purchase since someplace the market has limited a large portion of the up-sides,” he added.
Market master Mehraboon J Irani accepts one ought to try not to become tied up with the IT space now. Those having IT stocks can keep on holding however one should shun placing in new cash, he said. “There’s very little potential gain in spite of the story being great,” he said.
“IT is a story which has been found and very much processed, and for all intents and purposes, everyone on the Street with a portfolio is having no less than 10-15 percent of IT. So every individual who asked has no less than three IT stocks. We as a whole know someplace that midcap IT stocks, as far as valuation, had ventured out in front of the bleeding edge stocks. Likewise, post-HCL Technologies, TCS, and Infosys numbers, we saw the market give an obvious sign that someplace it is saying, ‘alright, fine, so you are great, the offer costs additionally are higher,” he said.
“To make perhaps 5-10-15 percent returns all things considered in 2022, IT is an area to be in,” he said.
PowerGrid up 3%, UltraTech, Airtel 1%
Gains in stocks such as PowerGrid, Bharti Airtel, Maruti Suzuki, UltraTech, and Tata Steel helped headline indices avoid deeper losses.
Bajaj Auto shares fall after Q3 earnings
Bajaj Auto offers were in the center around Thursday, a day after the automaker revealed quarterly income. The stock fell as much as 2.2 percent to Rs 3,368.5 each on BSE.
Bajaj Auto detailed a net benefit of Rs 1,214.2 crore for the December quarter, down 22% on a year-on-year premise. Its quarterly income expanded 1.3 percent to Rs 9,021.7 crore.
Examiners in a survey had assessed the organization’s net benefit at Rs 1,159 crore over an income of Rs 8,948 crore.
