Stock Reports Plus, powered by Refinitiv, has compiled a list of mean price targets for banking stocks based on the latest report dated April 25, 2023. The list includes stocks with a count of analysts evaluating them over the next 12 months, with a filter applied to exclude stocks with fewer than 10 analysts and upside potential of less than 20%. The list has been sorted based on the estimated potential upside, with City Union Bank Ltd showing the highest at 38.8%. ETPrime members have access to Stock Reports Plus.

ICICI Bank has outperformed BSE Sensex, Nifty50 and banking indices Nifty Bank and BSE Bankex, registering over 21% returns over the past 12 months amid robust Q4 earnings and technical triggers. According to Rajesh Palviya, VP of Technical and Derivatives Research at Axis Securities, the stock is in a strong uptrend across all time frames, with a series of higher tops and bottoms, rebounding sharply after recapturing its 20, 50, 100, and 200-day SMA. Sharekhan maintains a "Buy" rating on ICICI Bank with a target price of Rs 1,120. Key risks include economic slowdown, slower loan growth, and lower margins.

Gujarat state public sector undertakings (PSUs) shares surged up to 17% after the state government implemented a new policy regarding minimum levels of dividend distribution and bonus shares, with the aim of adding to the valuation of Gujarat's PSUs. The state government has made it mandatory that a minimum 30% of profit after tax or 5% of net worth, whichever is higher, must be declared as a minimum level of dividend; this policy aims to bring further clarity to minority shareholders and improve governance.

Axis Bluechip Fund, which used to be one of the top performers in the large cap category, is gradually going out of favor for investors. The fund performed exceedingly well especially during the period from year 2017 to year 2020. It can be seen from its whooping growth rate (CAGR of 79%) in AUM (assets under management) which peaked from Rs. 1,928 cr in Mar, 2017 to Rs. 35,702 cr in Mar, 2022 (Source: AceMF). The multifold growth made Axis Bluechip Fund as the largest fund in terms of asset size in its category. However, its fortune has changed this year and it has already recorded a fall of over 7% in its AUM so far. While the fund size of the large cap category collectively has been reduced by approx. 3%.

Retail investors in India's ITC have cashed out while foreign institutional investors continue to buy, according to data gathered by Economic Times. In the two years to end-March 2023, FIIs — excluding those related to British American Tobacco — raised their stake in ITC by 142bps to 14.21%, while mutual fund holdings increased 33bps to 9.47%. Meanwhile, small-time retail investors reduced their stake by 35bps to 11.13% in Q1 2022 despite their numbers swelling to 28.9 lakh as the stock's rally attracted new participants.

Despite recording stronger-than-expected Q4 earnings, Bajaj Auto shares fell. The company has seen some market share losses in premium bikes and exports. Jefferies analyst Nitij Mangal sees multiple tailwinds, including the rebound of domestic demand and gradual export recovery.

Its revenue from the India segment rose 13.3% to Rs 1,468 crore. Meanwhile, the European business of the company outperformed the Indian business by 5.8%. Europe revenue clocked at Rs 1,553 crore for the quarter, constituting nearly 51.4% of total revenue.

The bank's net profit was Rs 346 crore in the year-ago quarter, the lender said in a regulatory filing.

In the Nifty500 pack, the closing price of these nine stocks crossed above their 200 DMAs (Daily Moving Averages) on April 25, according to stockedge.com's technical scan data. The 200-day daily moving average (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:

We like Nestle's incremental focus to drive RURBAN growth. We maintain our long-term investment thesis of Nestle's likely outperformance compared to peers. Further, we believe the Street will continue to appreciate volume-based outperformance which Nestle is witnessing. We maintain add with a DCF-based revised target price of Rs 23,000.

Shares of Gland Pharma were up 0.8% at 1,360 rupees as of 9:50 a.m. IST. They have plunged 28% since November end, when Bloomberg News had reported, citing sources that Fosun Pharma was considering a sale of Gland Pharma after receiving interest from potential buyers.

"PI Industries is confident of delivering overall 20%+ revenue growth with improvement in margins and returns. We expect a revenue/EBIDTA/Adj. PAT CAGR of 19%/18%/17% over FY23-25. We have a target of Rs 4060 in next 6-12 months," Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

Big exclusive on Gland Pharma! Fosun Pharma withdraws plan to sell equity holding in Gland Pharma, as per sources. What is the reason for the move? Anurag Joshi is here with the details.

Despite investing $10 billion in clean power and fuel and committing to green technologies for future growth, Asia's richest man, Mukesh Ambani, has failed to convince the stock market. Shares of Reliance Industries, Ambani's flagship company, are valued at 24 times profit, a sharp decline from last year's P/E multiple of 37. While Reliance is experiencing growth across business lines and its March-quarter profit beat estimates, green technologies aren't getting the attention they deserve.

Sensex flat, Nifty above 17,750; RVNL rallies 8%, MCX tanks 5%; Au Small Finance Bank, NBCC, JSW Steel are some of the losers in the morning trade.

So far in 2023, Indian equity indices Nifty and Sensex have declined 2% and 1.3%, respectively as FIIs have sold stocks worth over Rs 19,000 crore this year. Meanwhile, major global markets have risen up to 17% year-to-date. According to IIFL Securities data, USA, UK, China, and Japan equity markets outperformed the Indian equity market in 2023. Here is a list of global market returns in 2023.

"Data on US inflation and GDP expected this week will have an impact on global markets and on India, too. Results of US tech majors have been good. If the US disinflation trend indicates a steady decline, that can be positive trigger for equity markets globally," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

JPMorgan has maintained an overweight rating on Bajaj Auto with a target price of Rs 5,150. Similarly, Motilal Oswal has maintained a buy rating on Apollo Hospitals with a target price of Rs 5,580, while Kotak Institutional Equities has an add rating on Nestle India and HDFC AMC with target prices of Rs 22,250 and Rs 1,860, respectively. The brokerage firms have based their ratings on the March quarter results of the companies, with JPMorgan citing EV volume momentum as a re-rating trigger for Bajaj Auto.

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 RIL and ICICI Bank while Nooresh Merani has a buy/sell recommendation on Bharti Airtel and Mahanagar Gas for today's trading session. Check out the targets and stoploss.

The price of this bank has been consolidating between two narrowing trendlines. As a result, the price was getting squeezed in the range and the participation decreased. Now the price has given a breakout of the upper trendline. The breakout in price is supported by a huge surge in volume, which increases the reliability of the breakout.

Despite investing $10 billion in clean power and fuel and committing to green technologies for future growth, Asia's richest man, Mukesh Ambani, has failed to convince the stock market. Shares of Reliance Industries, Ambani's flagship company, are valued at 24 times profit, a sharp decline from last year's P/E multiple of 37. While Reliance is experiencing growth across business lines and its March-quarter profit beat estimates, green technologies aren't getting the attention they deserve.

On the options front, the maximum Call OI is placed at 17800 and then towards 18000 strikes while the maximum Put OI is placed at 17700 and then towards 17600 strikes. Minor Call writing is seen at 17800 then 17950 strikes while Put writing is seen at 17750 then 17700 strikes.

The markets on Tuesday ended the day with only marginal gains, two days ahead of the expiry of the monthly derivatives series. The volatility index continues to be in the doldrums indicating profit-taking at the current levels.

Tech giants buoyed U.S. stock futures, despite fresh jitters surrounding the world's two biggest economies. Following higher-than-anticipated profits and $70 billion in stock buybacks announced by Microsoft and Alphabet, Nasdaq futures were up 1.4% and S&P 500 futures up 0.5%. However, the Wall Street Journal's Nick Timiraos warned the banking crisis wasn't over, leading to a sharp drop in U.S. markets overnight. Bond yields fell sharply and interest rate futures markets are pricing in a higher chance of Fed rate cuts later in the year.

Indian markets closed positively for the fourth day, with the Sensex up over 70 points and Nifty50 above 17,700. Anupam Rasayan rallied more than 4%, while ITC closed with gains of 0.4% and Zomato rose more than 3%. Technical analyst Viral Chheda recommends buying Zomato stock with stop loss of 48 on a weekly closing basis, booking partial profits for Anupam Rasayan, and buying ITC stock with a stop loss of 370 on a weekly closing basis.

Wall Street's major indices fell sharply, with the Dow Jones Industrial Average and the S&P 500 dropping by the most this month, due to investor concerns about the slowing US economy, exacerbated by a downbeat outlook from United Parcel Service (UPS), and plunging deposits at regional First Republic Bank. The Dow fell more than 340 points while the S&P saw its biggest one-day drop since March 22. Stocks of Microsoft rebounded after closing over 2% down on the day, while Google parent Alphabet's shares rose over 4% in the late session.

Bajaj Auto's standalone net profit fell 2% to Rs 1,433 crore for the fourth quarter ended March. It was Rs 1,469 crore in the same period last year.

"We are very, very comfortable," said Anil Agarwal in an interview with ET, drawing attention to the company's track record. "In the last 25 years, we have not defaulted even once. There has been disproportionate talk about our debt," he said, adding that VRL would repay its debt through a combination of dividend and royalty payments.

Shares of the Hinduja Group-promoted lender advanced as much as 2.3% in Tuesday's trading before closing at ₹1,119.95 per share on the NSE, up 1.63% from the previous close. More than 5.5 million IndusInd Bank shares exchanged hands on the BSE and NSE against a combined average daily volume of about 3.3 million shares over the last month.

​​Arun Nanda served as Executive Director, Mahindra & Mahindra Ltd. from 28/08/1992 to 31/03/2010, and subsequently as Non-Executive Director till 08/08/2014. During his career with the Group, Mr. Nanda has run a diverse set of businesses. His most significant achievements include the Group's diversification into leisure and hospitality, and the setting up Mahindra World Cities in Chennai and Jaipur.

The regulator also directed SGRL, Goenka, Galgali, Choudhary, Kanodia, Shah, Sanghvi and Jayneer to disclose the updated status of all the undisclosed material events to the stock exchanges within 15 days.

The share of hotel rooms in the tier-II and tier-III cities increased to 38% of the total inventory at the end of 2022 from 33% four years ago according to a recent HVS-Anarock report. The share of hotel rooms in metros reduced to 19% from 30% during the period. Cities such as Agra, Haridwar, Manali, McLeod Ganj, Kasauli, Katra, Mahabaleshwar, and Vrindavan reported the opening of new hotels in the mid-market and upscale segments.

The stock, which has lately undergone significant price and time corrections, has finally come out of the past four month's consolidation levels of ₹2,270-2,626 to close at ₹2,630 Tuesday. Technical analysts expect a 10% climb in the short term.

The IPP solar portfolio, located in five key states in India, is backed by long-term power purchase agreements-about 75% of assets with central government entities and the remaining with distribution companies backed by state governments.

This is the third big order for Anupam in a month taking the cumulative value of contracts to around ₹2,500 crore. The total order backlog would cross ₹5,000 crore after the company's recent order which would improve revenue visibility for the next 5-7 years.

Currently brokers and other intermediaries pledge clients' funds with banks, which in turn issue guarantees to clearing corporations for higher amounts.

Short-term traders can look to buy the stock now or on dips for a possible target of Rs 160 in 1-2 months, suggest experts

First Republic Bank has registered a deposit outflow of over $100bn in the wake of the biggest crisis to affect the banking sector since 2008. The deposit outflows have been significantly worse than Wall Street estimates, and analysts suggest that it will be very difficult to recover from these levels. The uncertainty over bank deposits has caused clients to look for money market funds that offer higher returns or larger 'too-big-to-fail' institutions, leaving banks like First Republic under enormous pressure. With this in mind, they plan to shrink its balance sheet and slash expenses, as well as lay off between 20-25% of employees in H2.

“Federal Bank stock price has recovered strongly in the last two years and currently hovering in a narrow range around its record high,” Ajit Mishra, VP - Technical Research, Religare Broking Ltd., said.

The regulator also directed SGRL, Goenka, Galgali, Choudhary, Kanodia, Shah, Sanghvi and Jayneer to disclose the updated status of all the undisclosed material events to the stock exchanges within 15 days.

On Tuesday, the Sensex ended on a positive note and gained about 74 points to reach the 60,130 mark. As a result of this minor upswing, four stocks from the BSE consumer discretionary index achieved new 52-week highs, a crucial technical indicator for several traders and investors. This indicator aids them in determining a stock's present value and anticipating its future price movements. The highest price at which a stock has been traded during the previous year is represented by the term "52-week high."

Equity benchmarks Sensex and Nifty closed higher for the second straight session on Tuesday, despite weak global cues, helped by buying in power and utility stocks. Nifty ended at 17,770 points, with gains of 26 points. Broader markets, however, ended in the red. Sector-wise, Nifty PSU Bank emerged as the top gainer, while Nifty Consumer Durables with loss of over 1% was the top sectoral loser“ As it is approaching its previous swing high of 17,863 it is witnessing some profit booking as the speed of up move has reduced. As we are in the final week of April series expiry, volatility can be high for the next couple of trading sessions. So, the crucial support zone to keep a watch is 17620 – 17600. Until the Nifty manages to hold and trade above this zone, we can expect the up move to continue. On the upside, the initial hurdle stands at 17863 – 17880. A break above that shall lead to a sharp rise towards 18000 psychological mark. Overall, we shall continue to maintain our positive stance from a short-term perspective for a target of 18100,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP ParibasHere are the stock recommendations for Wednesday:

ETMarkets used ET Mutual Screeners to analyze the top five equity-linked savings plans (ELSS) over the past year and found that all five have produced good CAGR returns of over 25% over the past three years. Tax-saving mutual funds, which invest at least 80% of assets in equities, are essentially ELSS that offer tax benefits to investors under Section 80C of the Income Tax Act, 1961. The lock-in period instills a good habit among investors to aim for long-term investing.

Currently, brokers pledge clients' funds with banks, which in turn issue bank guarantees to clear corporations for higher amounts. The regulator said this implicit leverage exposes the market and especially the clients' funds to risks.

APSEZ floated a tender to buy back as much as USD 130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it had said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable.

Dow falls 47.06 points, S&P 500 opens lower by 10.61 points and the Nasdaq Composite drops 68.40 points

The Nifty needs to hold above 17,717 zones to witness an upward move towards 17,850 and 17,950 zones, according to Chandan Taparia of Motilal Oswal. On the downside, support is placed at 17,620 and 17,550 marks. Volatility has sunk to hover at its lower band, with options data suggesting a shift in the trading range between 17,500 to 18,000 zones. The PCR Ratio for Nifty settled at 1.01, indicating a mildly bullish trend. However, immediate support is around 17,650-17,600 levels, warned Nagaraj Shetti of HDFC Securities.

Currently brokers and other intermediaries pledge clients' funds with banks, which in turn issue guarantees to clearing corporations for higher amounts.

IndiaMART InterMESH is set to consider issuing bonus shares to investors, subject to the approval of its shareholders, during its board meeting on April 28. Bonus shares increase stock liquidity and aim to reduce the stock price to make it more affordable for investors. IndiaMART InterMESH is one of India’s leading online B2B marketplaces with a 60% market share in the online B2B classified space, according to the Trendlyne data.

Startups rushing to raise more funds at higher valuations risk a difficult situation amid the current liquidity crunch as it narrows equity upside, said Zerodha CEO and co-founder Nithin Kamath. Liquidation preferences, which allow investors to recover their investment before anyone else in a business, need to be fine-tuned to match underlying fundamentals to succeed, he added. Kamath pointed out the discrepancy between uneven valuations and the market's fundamentals, which may prompt founders and leaders at late-stage startups to exit, potentially putting their firms' survival at risk. Kamath's comments come as fundraising for Indian startups falls to its lowest in four years.