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Brokerages are upbeat on SBI due to strong asset quality and record low slippages. The bank also holds unutilized Covid provisions of ~Rs 6,300 crore.
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The price action during the course of the week is very bullish and traders should be prepared for a firm rally over next 6-8 weeks
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This week, Money9 Covid25 Index outperformed the Nifty Pharma index by 1.9 percentage points but underperformed the Nifty 50 by 68 basis points
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With a gain of 37.18%, TCI Express emerged as the top gainer in the BSE 500 index. Shares of the company jumped to Rs 1,295 on May 21 from Rs 944 on May 14
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On a YTD basis for the calendar year 2021, the exchange has added over Rs 30 lakh crore
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With global macros finding a grip amidst the pandemic, domestic benchmark indices may continue to dilly-dally in the near term
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Grasim Industries will declare its Q4 result on May 24 while Sun Pharmaceutical and Eicher Motors will announce their Q4 results on May 27
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Top of gainers on the Sensex were banking stocks with HDFC Bank leading the pack followed by SBI, IndusInd Bank, ICICI Bank & Axis Bank rallying over 3.5%
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SBI reported a whopping 81% year-on-year increase in net profit to Rs 6,451 crore for the quarter ended March 31
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Equirus Long Horizon Fund, AccuraCap PicoPower, Centrum Microcap and SageOne Investment Core Portfolio stood among other PMS schemes which delivered 100%-127% return to investors.