Mon, Nov 25, 2024 9:16 AM
Citi upgrades RIL to 'Buy'; HSBC has a 'Reduce' call on Escorts Kubota
A Flip by Avya Verma
Indian Bank's shares surged over 7% after Financial Services Institutions Bureau (FSIB) recommended Binod Kumar as CEO and MD, succeeding Shanti Lal Jain whose term ends December 31. The bank aims to meet growth targets, improve asset quality, and focus on profitable growth, with a 35% year-to-date share price increase.
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Rites share price jumped by 13% during Monday’s trading session following the announcement that the Northeast Frontier Railway had significantly increased its project estimates. The new estimate now stands at ₹531.77 crore, a remarkable rise from the previous figure of ₹288.44 crore. This surge reflects positive market sentiment for the stock and confidence in the company’s prospects as it adds.
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Indian stock markets recovered last week, ending on a positive note despite bearish sentiment from Adani Group's alleged fraud and negative FII flow, with realty, auto, and consumer durables sectors performing well. Technical analysis suggests Nifty holding above 200 EMA is a critical support level, with potential for recovery or upside.
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