Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more
Notwithstanding a higher-than-estimated profit after tax (PAT) in the December quarter, ITC shares fell 1.5% to the day’s low of Rs 443.10 on the NSE on an operationally weak quarter led by sluggishness in the cigarette, agri and paperboard businesses. Following the earnings announcement, Nuvama slashed its price target while retaining a buy. Another brokerage … Read more
Diversified conglomerate ITC, with a market cap of $67 billion (Rs 5.6 lakh crore), surpassed British American Tobacco Plc (BAT) to become the third most valuable tobacco company in the world. London-based BAT, which sells cigarettes, tobacco, and other nicotine products, has seen a sell-off in its shares in the past week, rendering its market … Read more
