Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 37954.82 Crore).

On the options front, the weekly maximum Call OI is seen at 18000 and then towards 18200 strikes while the weekly Maximum Put OI is placed at 17000 and then towards 17500 strikes.

Mazagon Dock Shipbuilders topped the list of gainers with 178 percent returns while Adani Power rose 144 percent; Indian Bank, Varun Beverages, Swan Energy, RHI Magnesita India and Adani Total Gas were among the stocks that doubled.

On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 6.53 per cent of gross advances as compared to 9.13 per cent at the end of the third quarter of 2021-22.

Bankers are running baraat-like shows on streets in a desperate bid to garner deposits. Is making a show to market deposit products a new norm?

“This issuance is significant considering this is the first time an Indian bank is issuing a 15-year long-term infra bond helping the bank in long-term lending to the infrastructure segment. We believe this issue will help develop a long-term infra-bond curve and encourage banks to issue for longer tenors,” the bank said .

The INR vostro facility is part of the special trade settlement mechanism finalised by the RBI in July 2022.

On the options front, the weekly maximum Call OI has shifted to 18200 then 18300 strikes while the weekly maximum Put OI is placed at 18000 and then towards 17800 strikes. Meaningful Call writing is seen at 18100 then 18200 strike while minor Put writing is seen at 17900 then 18000 strike.

Dalal Street trader and investor Vivek Bajaj, who runs StockEdge, says credit will slow down when interest rates go up to obnoxious levels. "PSU banks, being the most inefficient segment of the banking sector, will definitely see corrections. But efficiently managed banks like SBI and Bank of Baroda will continue to outperform other PSU banks," he said.

Shares of Indian Overseas Bank (IOB) were the top gainers in todays trade as the stock surged 13% to Rs 29.75 apiece. Meanwhile, shares of Union Bank of India, Bank of India and Bank of Maharashtra rose over 8%. PNB, Indian Bank, UCO Bank, and Central Bank of India advanced over 5% each.

Indian Overseas Bank was the top loser as the stock fell 10% to Rs 27.5 per share. Among other PSU bank stocks, UCO Bank fell 9.9%, Central Bank of India 9% and Bank of Maharashtra 8%. The Bank of India, Union Bank of India, Indian Bank, PNB and Punjab & Sind Bank also plunged over 5%.

India's market cap stood at ₹281 lakh crore on Thursday as against ₹58 lakh crore in FY12. PSUs' market cap increased to ₹37 lakh crore from ₹16 lakh crore in FY12, while the private sector market cap rose to ₹252 lakh crore from ₹41 lakh crore.

“Within IT, if I have to select one I would go with HCL Tech. There is a long upside in terms of the revenue growth, in terms of margins and rerating. The discount between Infosys and HCL Tech is also now almost 14-15%. That makes more sense to go with it.”

Stocks that were in focus include names like UCO Bank which was up nearly 20%, Yes Bank which gained nearly 14%, and Indian Overseas Bank which closed with gains of nearly 15% on Tuesday.

In the last one month alone, Punjab and Sind Bank is up nearly 71%, UCO Bank 55%, Union Bank of India 51%, Bank of India (BoI) 42% and Central Bank of India 39.5%. On a year-to-date (YTD) basis, Bank of Baroda (BoB), Indian Bank and Union Bank of India have more than doubled investor wealth.

I think among the new age companies probably if you have to look at something you should go for a company like Zomato. I think Zomato is something where we are looking from the perspective that this is one company which is tapping a wide space and has got some bit of a pricing power. I think we are still sort of sceptical on lot of names.

Subdued Asian markets and continued selling by foreign investors further weighed on investor sentiment, traders said. The 30-share BSE benchmark ended 216 lower at 62,410.68, while Nifty settled at 18,560.50.

"A change in stance to dovish going forward by RBI will lead to rally in the banking segment while a prolonged hawkish stance will impact deposit rates and lead to narrowing NIMs, more so for PSBs," said Anil Rego, founder and fund manager at Right Horizons PMS.

The regulators (SEBI+RBI+Others) can work together and create a circular defining the dos and don'ts for financial market activities. Any tech solution is not foolproof. But any initiative towards giving a clear direction to market participants will definitely discourage the negative characters who are active in the system.

Churning action is expected to continue for the next few weeks. Upside count of Nifty as per P&F chart continues to be open around 19,300, yet we are likely to see range-bound action between 18,500-18,900 in the near term.

SBI, the countrys largest lender, received overwhelming response from investors with bids of Rs 16,366 crore, prompting an early closure of the issue. It was scheduled to close next week.

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

BofA Securities has a positive outlook on SBI India with a neutral rating and a target price of Rs 680 per share and it expects Bank of Baroda to lead the rest of the PSU bank pack. It has a buy tag on the lender with a target of Rs 190.

While BofA continues to have a positive outlook on India's largest lender State Bank of India with a neutral rating and a target price of ₹680 per share, it expects Bank of Baroda (BoB) to lead the rest of the PSU bank pack due to its diversified yet relatively safe loan book, and a more advanced digital strategy.

ICICI Direct is bullish on Indian Bank recommended buy rating on the stock with a target price of Rs 300 in its research report dated November 10, 2022.

Emkay Global Financial is bullish on Indian Bank has recommended buy rating on the stock with a target price of Rs 310 in its research report dated November 05, 2022.

Motilal Oswal is bullish on Indian Bank recommended buy rating on the stock with a target price of Rs 290 in its research report dated November 05, 2022.

Total income in the quarter increased to Rs 12,538 crore from Rs 11,440.42 crore in the same period a year ago, Indian Bank said in a regulatory filing.Net interest income during the quarter was higher 15 per cent at Rs 4,684 crore. Fee income grew 18 per cent to Rs 723 crore

“If we are talking about shorter term, PSU banks still have potential. PSU banks have come out with 13-14% kind of growth last quarter and the management were still saying that they may grow at that level. I see some potential in stocks like Canara Bank and Indian Bank which are still trading at a discount to their book value. In the private sector, IndusInd Bank still trades at a good discount to the other private sector banks. ”

The last few weeks have seen major state-run lenders, including Punjab National Bank, Union Bank of India and Indian Bank raising funds this way, while private banks IDFC First Bank, Federal Bank and IndusInd Bank also turned frequent borrowers, traders said.

Improved PCR, coupled with controlled restructuring and low Special Mention Accounts (SMA) book will drive a sustained reduction in credit cost to 0.8% for SBI which is our top pick,” Sneha Poddar, AVP, Fundamental Research, Motilal Oswal Financial Services, said.

​​Stocks such as Kalpataru Power, Ipca Laboratories, SBI Cards, V-Mart Retail, V-Guard Industries, Hero MotoCorp, Indian Bank and Axis Bank, among others, have seen an increase in mutual funds holdings in each of the past six quarters.

Corporate earnings are coming in strong from the consumption and banking sectors. Due to the commodity price correction, the metals and Oil & Gas sectors will be the laggards.

In an interview with ETMarkets, Deodhar, said: “Trader should buy the quantity which he/she is comfortable holding on the Muhurat day and avoid trading on leverage.” Edited excerpts

Nifty PSU Bank index hit an all-time high of 3,313, surging 3.11% in todays intraday trade

Looking at the broader picture of RHI Magnesita India, we can spot that the overall trend is on the upside. While the steepness of the trend line is rising, this tells that the underlying trend is accelerating for an upside move.

During Thursday's volatile session, eight stocks from the BSE 500 index managed to touch new 52-week highs.

Primary trend of EIH is positive as it is trading above its 50, 100 and 200 days EMA. We expect stock price to end consolidation and resume its uptrend in the days to come.

What's driving investors to a lending pocket more or less neglected until recently? Analysts attribute the appetite to improvement in asset quality and liquidity, and a sharp pickup in credit growth - sharp enough for banks to step in and supplement bonds at borrowing corporates.

Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 25369.64 Crore).