The brokerage is of the view that RBI’s approval for MD’s term extension will be a key monitorable for the stock in the near term.

Bharti Airtel, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 452650.93 Crore) operating in Telecommunications sector.

Promoters held 39.99 per cent stake in the company as of December 31,2022, while FIIs owned 0 per cent and DIIs 12.46 per cent.

The brokerage maintains its positive view on the bank with a TP of Rs 1,408, valuing it at 1.6x P/ABV on its FY25e book.

ICICI Lombard General Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 58503.41 Crore) operating in Financial Services sector.

The brokerage is of the view that management change in the US region may help it to grow stronger & achieve desired revenue mix.

Tata Metaliks, incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 2734.77 Crore) operating in Metals - Ferrous sector.

Promoters held 75 per cent stake in the company as of 30-Sep-2022, while FIIs owned 5.42 per cent, DIIs 9.5 per cent.

Federal Bank, incorporated in the year 1931, is a banking company (having a market cap of Rs 28902.22 Crore).

ICICI Prudential Life Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 70055.77 Crore) operating in Financial Services sector.

The brokerage tweaks its FY23E/FY24E estimatesto factor in lower credit costs, partly offset by downward pressure on NIMs.

However, due to the recent rally in the stock price and limited upside on its TP, the brokerage downgrades its rating to ADD.

IndusInd Bank, incorporated in the year 1994, is a banking company (having a market cap of Rs 95085.27 Crore).

The bank has been improving its core operating profitability led by strong sector tailwinds along with improvement in the credit cycle that is resulting into lower credit cost which should augur well for earnings trajectory and return ratios going ahead.

The stock has made a higher bottom formation, and with high volume participation, this stock is in an upward trend along with a rising RSI.

The brokerage believes the structural growth story for the Indian IT sector remains intact.

Eris Lifesciences, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8701.37 Crore) operating in Pharmaceuticals sector.

Star Health and Allied Insurance Company, incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 31311.04 Crore) operating in Financial Services sector.

ICICI Lombard General Insurance Company, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 58351.19 Crore) operating in Financial Services sector.

Given the flat-fee model, a lean cost structure and its market leadership in retail derivatives, the stock remains a convincing play on the Indian capital markets.