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Poonawalla Fincorp among 4 stocks closed above VWAP, signalling a bullish shift
On July sixth, four Nifty500 stocks saw closing prices rally by over 1.5 percent. This movement above their Volume Weighted Average Price suggests a potential bullish trend. Karur Vysya Bank and Poonawalla Fincorp showed significant price increases. Manappuram Finance and Swan Corp also experienced positive trading activity.
Sobha, Equitas SFB: Top stock picks by Kotak Securities; here's why
Shrikant Chouhan, Head of Equity Research at Kotak Securities explains why the brokerage has an 'ADD' rating on Sobha and a 'BUY' rating on Equitas Small Finance Bank.
TPG acquires Aseem Infrastructure from NIIF with GIC, ICICI backing
Global private equity firm TPG is acquiring a full stake in Aseem Infrastructure Finance, a leading sustainable infrastructure debt financier. Partnering with Singapore's GIC and ICICI Bank, TPG's climate investing platform will take over the company, which has funded significant renewable energy and power transmission projects. Aseem Infrastructure, founded by NIIF, has disbursed over Rs 40,000 crore in loans, contributing to substantial greenhouse gas emission reductions.
TPG, GIC and ICICI Bank acquire Aseem Infrastructure Finance for ₹5,000 crore
Aseem is a leading sustainable infrastructure debt financier with a core focus on renewable energy, power transmission and other infrastructure assets in India. It was established in 2020 by the National Investment and Infrastructure Fund, India’s sovereign-anchored alternative asset manager.
AU Small Finance Bank Ltd soars 1.11%, up for fifth straight session
AU Small Finance Bank Ltd is quoting at Rs 1070.2, up 1.11% on the day as on 12:44 IST on the NSE. The stock is up 31.5% in last one year as compared to a 3.99% drop in NIFTY and a 2.58% drop in the Nifty Bank.
AU Small Finance Bank's growth engine is intact, but questions remain
Whether the momentum in the lender's mainstay vehicle financing has sustained in Q1 amid rising crude oil and commodity costs and a fading GST 2.0 push has to be seen.
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Shriram Finance, Piramal Pharma shares on 6 July
Indian benchmark indices, Sensex and Nifty 50, opened higher on July 6, driven by gains in private banking stocks following strong quarterly updates from HDFC Bank and Axis Bank. Market breadth was positive with 14 of the 16 major indices in the green.
L&T Fin to AU Small Fin — Seven NBFC stocks that will react to their Q1 updates today
AU Small Finance Bank's total deposits crossed the mark of ₹1.5 lakh crore, while L&T Finance's retail disbursements were up 36% from last year.
Analysts back buy-on-dips strategy as Nifty targets 24,450–24,800
Indian stock market analysts are optimistic, anticipating the Nifty to continue its upward trend. They suggest buying on dips around the 24,000-24,150 mark, with potential upside targets reaching 24,800. Several stocks, including Container Corporation of India, IndusInd Bank, Biocon, HDFC Asset Management Company, Shriram Finance, and Piramal Pharma, are highlighted as strong buy recommendations with specific price targets and stop-losses.
Bullish futures positioning hints at upside in large-cap stocks
Indian stock markets are seeing pockets of strength, particularly in mid- and small-cap segments, with optimism now extending to select large-cap stocks. Analysts highlight several stocks showing bullish futures build-up and positive technical indicators. IndusInd Bank, Nalco, Shree Cement, HDFC AMC, Adani Energy Solutions, Nestlé India, and ONGC are identified as potential gainers, with specific entry points, targets, and stop-losses provided for traders.
Utkarsh SFB Q1 business update: Loans grow 2%, deposits rise 2.6% YoY
Utkarsh Small Finance Bank reported steady growth in its Q1 business update, with gross loans rising 2% and deposits increasing 2.6% year-on-year.
Utkarsh Small Finance Bank Q1 Update: Loan Disbursements Jump 49%, Deposits Rise 2.6%
Utkarsh SFB's gross loan portfolio increased 2% year-on-year.