The brokerage's buy view on the stock is on account of high dividend yield and valuations. The stock is currently trading at 15.6X FY25F EPS. The key risks are in the form of weak revenue growth and continued margin pressure.

In morning session, the scrip was trading 8.5% higher at Rs 1.160 on BSE. Meanwhile, in the last one year, it has surged 19%.

The stock rose from Rs 161.65 as on 25th April 2023 to Rs 198.65 recorded on 25th July 2023 which translates into an upside of 23% in the last 3 months. The restaurant stock hit a record high of Rs 215 on 18th August 2022 but it failed to hold on to the momentum.

Under the proposed OFS, the government will offload about 7.08 crore equity shares, representing 3.4% equity on Day 1, which is the T day, and in the case of oversubscription, an additional 1.96% stake will be sold.

Kotak retained a 'Reduce' stance on the counter and estimates the fair value at Rs 6,800. Bajaj Finance reported a strong quarter, buoyed by AUM growth, with sales finance (consumer durable loans), two-wheeler and commercial loans being the largest drivers. As such, momentum may remain strong at 27% YoY for the rest of the year, but moderate from the highs of Q1.

Share buyback or share repurchase is a corporate action in which a company buys back its own outstanding shares to reduce the number of shares available in the open market. A company may come up with buyback offers for several reasons such as increasing the value of shares by reducing their supply etc. Here's a list of companies that announced share buybacks recently:

In a post-market hour filing to exchanges on Wednesday, M&M said it has acquired a 3.53% stake in RBL Bank at a cost of Rs 417 crore and may consider further investment subject to pricing, regulatory approvals and required procedures.

Axis Bank reported a standalone net profit of Rs 5,797.10 crore for the quarter ended June 2023, up 40% year-on-year (YoY) over Rs 4,125.26 crore profit reported by the company in the corresponding period of the last financial year. An ET NOW poll of analysts had anticipated the profit figure at Rs 6,000 crore.

Having doubled down its bet on Adani Group stocks in the past few months, GQG Partners has seen the market value of its investments soaring, thanks to the rally in the stocks. The sharp upmove in shares of most of the Adani Group companies since April has taken the total market value of GQG Partners’ investment to nearly Rs 25,000 crore.

In a post-market hour filing to exchanges, M&M said it has acquired a 3.53% stake in RBL Bank at a cost of Rs 417 crore and may consider further investment subject to pricing, regulatory approvals and required procedures.

The IPO of Netweb, a leading high-end computing solutions (HCS) provider with fully integrated design and manufacturing capabilities, was subscribed 90.36 times at close. The qualified institutional buyer portion was the most subscribed with a subscription of 228.91 times, followed by non-institutional investors with 81.81 times. The retail category was subscribed 19.15 times.

An analysis of the latest shareholding pattern of the new-age companies shows that domestic fund houses increased their ownership in Nykaa by 336 bps to 8.5% in Q1. The stock of the fashion and lifestyle e-tailer has been among the worst performers in the pack of new-age stocks and is down by about 39% in the last one year.

The rate hike by Fed took the benchmark interest rate to 5.25-5.50%, the highest level since the global financial crisis in 2007-2009.

On the monthly options front, the maximum Call OI is placed at 19800 and then towards 20,000 strikes while the maximum Put OI is placed at 19700 and then towards 19600 strikes. Minor Call writing is seen at 19900 and then towards 19850 strikes while Put writing is seen at 19750 and then towards 19650 strikes.

Opening Bell: Sensex gains 250 points, Nifty tops 19,800; M&M drops 4%, Bajaj Finance rises 2%.

Jefferies upgraded Cipla to buy with a target price of Rs 1210. The US performance leads to the beat in Q1 results. The management commentary provides a positive read-through.

The rate hike by Fed took the benchmark interest rate to 5.25-5.50%, the highest level since the global financial crisis in 2007-2009.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on PVR INOX and Bata India while Nooresh Merani has a buy/sell recommendation on SBI and ONGC for today's trading session. Check out the targets and stoploss.

In the Nifty200 pack, we have collated a list of five stocks that witnessed a 5-year swing high at the close on July 26, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

Bajaj Finserv’s daily trend is bullish to sideways. RSI for monthly is showing sideways momentum. However, RSI for weekly and daily is showing bullish momentum. Based on option chain analysis, the range is between 1600 and 1700. Let’s plan a trade around this.

In the Nifty500 pack, seven stocks crossed above their 200 DMA (Daily Moving Averages) on July 26, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:

Stocks that were in focus include names like RBL Bank, which rose 7.21%, Piramal Enterprises, which gained 7.67%, and L&T, whose shares rose 3.56% on Wednesday.

Six stocks with a market cap of over Rs 1000 crore are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on July 26.

Fed Chair Jerome Powell said in a press conference the central bank will make decisions meeting by meeting, closely watching economic data, but noted that a rate cut is very unlikely this year.

Nifty futures traded 0.5 points, or 0.00 per cent, higher at 19,984.50, signaling that Dalal Street was headed for a muted start on Thursday. Here's a slew of stocks that will be in focus today for various reasons.

S&P 500 futures rose 0.2% while Nasdaq futures gained 0.5%, helped by a 6.8% jump in Meta Platforms in after-hours trading. Facebook's parent company reported a strong rise in advertising revenue, topping Wall Street targets.

Mahindra's disclosure comes amid evident regulatory caution over banking ownership by business houses. The Reserve Bank of India (RBI) abandoned a proposal that would have permitted business houses to eventually own banks after public resentment against an internal working group suggestion in favour of allowing such ownership. The Mahindra Group already owns a non-banking finance company (NBFC).

"Tata Steel stock has witnessed a fresh breakout on weekly charts as prices are seen rising above the downward sloping trend line of the long-term bearish channel. Buy for a target of Rs 141 and a stop loss of Rs 105," Shitij Gandhi, Senior Technical Analyst, SMC Global Securities, said.

Tata Consumer Products' profit rose 30% YoY to Rs 359 crore in the first quarter. Revenue from operations during the quarter increased 12% YoY to Rs 3,741 crore.

This will mark an India comeback for Wall Street’s green crusader Larry Fink, chairman of Blackrock, after parting ways with long-time partner Hemendra Kothari of DSP. The joint venture will be called Jio Blackrock and will launch operations after regulatory and statutory approvals. The company will have its own management team.

Shares of the engineering and construction conglomerate touched a record high of ₹2,673.85 before closing at ₹2,652 on the NSE, up 3.56% from the previous close.

Mirror trading is a technique that allows an individual to copy the trade of another on a real-time basis.

Sircar was appointed executive director and group CFO of Azure Power Global - the parent unit of an Indian renewable power generating company - from May 1, 2023. Before this, he was appointed independent director in October 2022.

"Our own expectation is that they aren't going to change anything on the rates front for the rest of this fiscal year," said Radhika Rao, economist at DBS in Singapore. "Cuts will mostly take place in March 2024, which will be preceded by a change in stance, and a much more cautious commentary on growth."

Mirror trading is a technique that allows an individual to copy the trade of another on a real-time basis.

Bank of Baroda, DBS Bank and Karur Vysya Bank are likely to sell their cumulative stake of just over 30% in Canbank Computer Services to Canara Bank, its majority owner. This will make Canbank Computer, a software-enabled services and ATM management company, a fully owned subsidiary of Canara Bank.

The buying frenzy followed the announcement by Tata Motors to cancel class 'A' shares, also known as shares carrying differential voting rights or DVR, and convert them into ordinary shares. DVR shares trade like ordinary shares but with lower voting rights. This share category has 1/10th voting rights but a 5% higher dividend.

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.

The stock managed to hold on to the gains despite weak Q1 results. It rose over 2% in a week and more than 9% in a month. It has rallied over 11% in the last 3 months.

As of Wednesday, 77.6% of the 152 companies listed on the S&P 500 that have reported earnings have beaten analyst expectations, as per Refinitiv Data

The rate hike, the Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.

The Federal Open Market Committee is expected to raise rates a quarter point to the 5.25% to 5.5% range, an 11th increase since early 2022

Even as the Fed policy rate decision looms, Indian equities in a range-bound trade ended on a strong note, led by gains in heavyweights including RIL, ITC, and Larsen and Toubro. Nifty gained 98 points to settle at 19,778, while Sensex, after advancing 351 points, settled at 66,707. Meanwhile, broader markets underperformed their headline peers."Nifty found support at the 9EMA when on the lower end of the range. The daily chart indicated a downward consolidation breakout, suggesting potential downward momentum. The RSI confirmed this sentiment with a bearish crossover. Key support was identified at 19700, while resistance levels were observed at 19900/20000, providing crucial reference points for traders and investors," Rupak De, Senior Technical Analyst at LKP Securities, said.Here are the stock recommendations for Thursday:

Indian equities finished Wednesday positively, with Nifty up 0.5% to over 19,750 levels, ahead of the release of the Fed meeting outcome. Sectoral indices for Nifty PSU Bank, FMCG, and Realty had the highest gains, while Nifty Consumer Durable and Auto Index went down. Analysts propose that there will potentially

The two have signed an agreement to form a 50:50 joint venture to offer investment solutions. JFS and BlackRock are targeting initial investment of $150 million each in the joint venture, to be named Jio BlackRock.

After pausing in June, the US Federal Reserve is widely expected to hike interest rates again on Wednesday, adopting its most restrictive monetary stance for 22 years despite recent signs of slowing inflation. After 10 consecutive hikes in just over a year, the Fed halted its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health of the US economy, and the impact of recent banking stresses on lending conditions.

Here's a look at the number of trading days that Nifty50 hit all-time high levels since 1991, bucketed by every five years. (Data Source: ICRA MFIE)

Jio Financial Services and BlackRock have signed an agreement to form a 50:50 joint venture. They are targeting initial investment of $150 million each

Larsen & Toubro (L&T) is expected to continue its momentum in the medium term due to a fast-expanding order pipeline, particularly in infrastructure and energy sectors. The company's Q1 core order inflow rose by 79% YoY to INR50,300 crore, and the total order inflow rose by 57% to INR65,520 crore.

The Nifty index formed a shooting star-like pattern on Wednesday, facing resistance levels around 19,800 after gaining 98 points. Analysts suggest that the support zone will be in the range of 19,615-19,560, while the upside target is seen at 19,830-19,850. According to Prashanth Tapse, the technical landscape of the Nifty suggests consolidation, with interweek support at 19561 and immediate hurdles at 20000. Meanwhile, Minor downward correction has been completed and the market is likely to shift into an upside bounce, according to Nagaraj Shetti.