Banking, finance and select infrastructure stocks featured prominently on analysts’ wish lists in November, while IT companies continued to be at the receiving end of brokerages’ sell calls.

#ICICIBANK TIME FRAME:-- 4hrBuy Above___ 965Target__ 1000

All the sectoral indices recorded gains with oil and gas surging the highest 3.77 per cent followed by Bankex rising to 3.56 per cent. While the power sector index went up 2.99 per cent, financial services advanced 2.98 per cent and utilities jumped 2.94 per cent.

The index made a strong bullish candle on daily charts as it rose 1,617 points or 3.6% to close at 46,431. It hit an intraday record high of 46,484. The Nifty50 index rose more than 400 points to close at 20,686. Nifty Bank has risen more than 6% in a week as well as more than 8% in a month.

Within the sector, Andrew Holland prefers private sector lenders more than PSU banks as the management of public sector banks keeps changing every three years. HDFC Bank, ICICI Bank and Axis Bank are his top picks

With decisively surpassing previous record highs and making higher highs, higher lows formation along with healthy volumes on daily charts last week, the Nifty50 is likely to march further northward with eyeing 20,400-20,500 zone.

The pivotal role in this anticipated upswing will be played by heavyweight contributors from the private banking sector, with notable participants such as HDFC Bank and ICICI Bank, he says

The Nifty Bank rose over 300 points to close at 44,814. It hit an intraday high of 44,951 and an intraday low of 44,531. The Nifty50 rose more than 100 points to close at 20,267

ICICI Securities is a subsidiary of ICICI Bank, wherein the latter holds around 75% stake in the former.

The momentum also helped the stock to reclaim 50-DMA on the daily charts in seven trading sessions. The index broke down from the short-term moving average on November 16

At the end of trade, the market capitalisation of BSE-listed companies reached Rs 3,31,05,425.71 crore, which translates to USD 3.97 trillion at the current exchange rate of 83.34, thanks to a fag-end recovery in the equity market after a highly volatile trade.

The index rose 111 points to close at 43,880. It hit an intraday high of 43,960 while on the downside it hit a low of 43,739. The Nifty50 rose 95 points to close at 19,889.

The market capitalisation of all listed companies on BSE surged by Rs 2.39 lakh crore to Rs 331.1 lakh crore. The market breadth was skewed in the favour of the bulls. About 1,984 stocks gained, 1,808 declined, and 180 remained unchanged on the BSE.

"At Magellanic Cloud, technology is the driving factor for our success. The surge of our order book and in local and export sales from our IT division reflects our team's hard work and dedication. We are confident that we will continue to grow and expand our reach towards greater success. We anticipate 2-3 acquisitions each year and leveraging their resources to drive growth."

While Reliance Industries, HDFC Bank, ICICI Bank, and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, State Bank of India, and Bajaj Finance faced erosion in valuation.

GMR Airports, the holding company of the airports in Delhi, Hyderabad and Goa, will use the proceeds to refinance high-cost borrowings and partly to invest in subsidiaries, said the bond documents that did not name the investors. The coupon rate of 13.275% comprised 5% as cash coupon and 8.275% as redemption premium, the documents stated.

Typically, the tenure options are one month, three months, six months, a year, and three years. However, the majority of consumer loans are linked to a one-year term.

Market watchers said these institutions may be buying the shares in anticipation of better terms in the delisting process. Earlier, some investors had slammed ICICI Bank's plan to delist the subsidiary on the grounds that the conditions may not be in the best interests of public shareholders.

GMR will use ₹1,520 crore proceeds from the bonds to repay term loans, ₹227 crore for repayment of subordinated debt, ₹300 crore to repay sponsors' debt, ₹290 crore for capex of phase 2 of the airport construction, according to the bond documents available at the Bombay Stock Exchange.

GMR is constructing another airport at Bhogapuram, Andhra Pradesh, at a cost of Rs 4,700–4,800 crore. Spread over 294 acres, the airport is expected to cater to 24 million passengers. In a corporate presentation earlier this month, the company said financial closure for the project is “in advance stages” and that it has “achieved required sanction from all participating financial institutions /banks,”. It has also won the bid to “commission, operationalize and maintain” a civilian airport at Bidar, Karnataka. It has received the mandate to develop, modernise and operate Nagpur airport.

Besides, the brokerage has also shared the list of companies it remains bearish on given the challenges and risks to earnings growth. These are Tech Mahindra, Cummins India, Asian Paints, Gujarat Gas, and Tata Power.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 648170.79 Crore).

Kotak Mahindra Bank and HDFC Bank have lower exposure to unsecured consumer loans compared to peers like ICICI Bank and IDFC First Bank

Masters' Union, a Gurgaon-based business school, has seen an average package of Rs 34.07 lakh for its PGP (MBA) Cohort of 2023, with 137 companies participating in the recruitment drive. The top 25% of the batch received an average package of Rs 44.67 lakh, while the bottom 25% received an average package of Rs 22.35 lakh.

Banking stocks like SBI, Kotak Mahindra Bank, and IndusInd Bank saw some repreive on November 20 after the RBI's tightening of unsecured retail lending

The base case scenario of Sensex hitting 74,000 mark has a 50% probability and suggests that the BSE Sensex will trade at a trailing P/E multiple of 24.7x, ahead of the 25-year average of 20x.

Nifty Bank index fell 0.09% on Thursday to close at 44,161. The index hit an intraday high of 44,420 but it failed to hold on to the momentum. Top index gainers include names like IDFC First Bank, PNB, and AU Small Finance Bank, while some profit booking was seen in Axis Bank and ICICI Bank.

JAL owes a group of 32 lenders a total of ₹29,272 crore. The company was among the 26 defaulters that the RBI had directed to be taken to the bankruptcy process in 2017 following which ICICI had filed an insolvency petition against the company before Allahabad Bench of the National Company Law Tribunal in 2018. That petition is yet to be admitted.

Jaiprakash Associates is the flagship company of the Jaypee Group which is engaged in engineering & construction (E&C), cement, hospitality & real estate businesses. JAL is also the holding company for various subsidiaries engaged in cement, power, real estate and other diversified business activities.

"Principal repayments on the company's loans are due in 2037. Their proposal is that limits should be released, and operations allowed to continue so that the debt can be serviced," said a banker aware of the proposal.

“I feel that with the product mix change in favour of high yielding assets like credit card loan, MSME and personal loan, ICICI Banks NIM and ROA going forward should sustain at the level of 4.5% and 2% respectively. At the current market price, the price to book is around 2.4 times FY25 price to book multiple.”

Delhi High Court has overturned a decision by the Debt Recovery Appellate Tribunal (DRAT) that required Religare Finvest Ltd (RFL) to deposit 40% (approximately Rs 116.85 crore) of a Rs 306 crore debt due, along with interest, to pursue its petition.

India VIX was up by 2.04% from 10.88 to 11.10 levels on Monday. Volatility was slightly on the rise but created momentum in the index.

October was a particularly a harsh month for big names such as HDFC Bank, TCS and HUL, which posted less-than-flattering numbers for the second quarter and were immediately caught in a flurry of brokerage downgrades

From the Sensex stocks, L&T, ICICI Bank, JSW Steel, M&M, and Axis Bank opened with gains, while only Bharti Airtel opened with cuts.

An analysis of shareholding patterns of BSE-listed companies shows that LIC dumped at least 84 stocks like Tata Motors, Reliance Industries (RIL), Dr. Reddy's Laboratories, TVS Motor, Dixon, ONGC, Reliance Power and Tata Elxsi.

ICICI Bank has announced that their digital rupee (e) app 'Digital Rupee by ICICI Bank' now allows millions of clients to pay to any retailer QR code. The Bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable.

Several major stocks achieved a significant milestone by surpassing their 200-day SMA, signaling potential shifts in their stock trends.

A separate tech team is fine-tuning AI to match investors and their risk appetite and suggest investment products accordingly. "We have a consumer data mine with us. Jio will also take a lot of technology intelligence from BlackRock, officials said. We have already begun using bots in some of our other businesses but how deeper can we use AI is work in progress," an official close to the development said. Jio Financial Services did not comment.

From the Sensex stocks, UltraTech Cement, Reliance Industries, ICICI Bank, HDFC Bank and Airtel closed higher, while Tata Motors, Maruti, Axis Bank, M&M, and NTPC ended in the red.

Festive season around Diwali has traditionally been the period when people typically spend highest amount on shopping in any given year. There is an increasing trend of people using credit cards, credit lines and BNPL options to fund their shopping. However, it involves cost. Even a convenience fee may appear low but it can cost big if you are not careful. Here's how you need to assess your funding options and find the cheapest one.

Indian banks is likely providing incentives to encourage the use of the central bank's digital currency, known as the e-rupee, news agency Reuters reported citing sources. This initiative comes as a result of the RBI's encouragement to increase transaction volumes. These incentives include giving benefits such as cash-backs and reward points

OnePlus Open, the brand's debut foldable phone, is now available in India at Rs 1,39,999. Sporting a vivid 7.82-inch AMOLED display and Qualcomm Snapdragon 8 Gen 2 processor, the device promises seamless performance.

"From 2003 to 2008, Sensex went up five times in five years. But there were six episodes during that period when the market corrected by 20%, I mean the Sensex corrected by 20%, the mid and smallcap of course would have corrected much more. So we cannot skip those periods, there is no gain without some pain. We are in that journey and some corrections are always good."

The average price target on Axis Bank of all analysts compiled by Bloomberg following the second quarter results is ₹1,169.78, implying an upside of almost 20.18% over Thursday's closing.

RFL's senior counsel Rajeev Nayar and counsel Saurabh Seth contended before a bench of Justice Amit Mahajan and Justice Dharmesh Sharma that the DRAT has reached an "erroneous" conclusion and said the listed company is not in a position to deposit any further sum beyond 25% (₹76.61 crore) that had already been deposited before the appellate tribunal.

Since September 15, when Nifty hit lifetime intra-day peak of 20,222.45 and Sensex 67,927.23, Tech Mahindra has been the biggest loser among bluechips with a 15% loss during the period. Wipro has shed 14% of its value while peer Infosys is down around 9% since then. Adani Enterprises has lost over 13%, Adani Ports 10% and RIL 9%. HDFC Bank, which recently completed a reverse merger with parent entity HDFC, is down 12%.

The short-term trend of Nifty continues to be negative. Having placed at long-term support at the lows, there is a possibility of a small upside bounce from near 19100-19000 levels. A breakdown of 19000 is likely to open the next downside of 18600 levels in the near term. Any upside bounce from here could find strong resistance around 19250-19350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

HDFC Securities is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 1190 in its research report dated October 20, 2023.

Sharekhan is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 1200 in its research report dated October 23, 2023.

Motilal Oswal is bullish on ICICI Bank recommended buy rating on the stock with a target price of Rs 1120 in its research report dated October 22, 2023.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 650271.72 Crore).

Emkay Global Financial is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 1375 in its research report dated October 22, 2023.

"We are seeing a mean reversion phenomenon in the markets where the mid- and small-cap indices both peaked in October and are now experiencing a correction at a rate faster than the Nifty" said Deepak Jasani, head of retail research at HDFC Securities. "Investors display a sentiment of risk aversion and are not willing to wait longer, and hence are pulling out of the market booking profits wherever available or cutting losses."

The multi-commodity exchange will also be closed for the morning session but will open for trading in the evening session (5-11:30 p.m.). In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year.

The multi-commodity exchange will also be closed for the morning session but will open for trading in the evening session (5-11:30 p.m.). In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year.

Prabhudas Lilladher is bullish on ICICI Bank has recommended buy rating on the stock with a target price of Rs 1280 in its research report dated October 22, 2023.

In a recent legal battle, ICICI Bank has been ordered to compensate a customer from Chennai for the denial of reward points. The customer fought against the bank and received Rs 41,691 in reward points and an additional Rs 35,000 for deficiency in service. The ruling serves as a reminder to consumers that they have the right to seek compensation for any deficiencies in service.