- Why it’s recommended: Healthy advances growth, particularly in the Retail, Agriculture, and MSME segments, along with strong asset quality and profitability, is supported by an expanding branch network, rising CASA deposits, and digital product initiatives.
- Key metrics: P/E: 11.62, 52-week high: ₹376.25, volume: ₹514.66 crore
- Technical analysis: Cup base breakout
- Risk factors: Dependence on sustained deposit mobilisation to support faster loan growth could pressure funding costs and margins, while exposure to MSME, agricultural, and gold-loan portfolios may increase asset-quality risks during adverse economic cycles.
- Buy at: ₹365–371
- Target price: ₹420 in two to three months
- Stop loss: ₹350
How the Nifty 50 performed on 19 October
Nifty 50 opened on a flat-to-mildly-positive note but could not hold above 23,150, and profit booking set in soon after it tested the intraday high. The index opened at 23,150.85, touched a high of 23,175.25, a low of 22,845.00, and closed at 22,888.95, down 257.20 points or 1.11%. The day’s low came very close to testing the 21-DMA (22,843), while the bearish candle erased the previous session’s gains, resembling a bearish engulfing pattern. JSW Steel (+2.06%), ONGC (+1.35%), and SBIN (+1.15%) led the gainers, while Axis Bank (−4.19%), TMPV (−3.09%), and Infosys (−2.63%) were the top losers. Breadth was weak, with 41 of the 50 constituents closing lower.
