An analyst from Anand Rathi said that A breakout is visible on the daily charts of Kotak Mahindra Bank, after a phase of consolidation in the Rs 2,125–2,165 range.
The Digital Consent Acquisition (DCA) pilot brings together nine telecom operators and eleven major banks, including SBI, PNB, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Canara Bank, Bank of Maharashtra, IndusInd Bank, Indian Overseas Bank and Punjab & Sind Bank.
The stocks that saw the biggest EPS cuts included InterGlobe Aviation (11.2 per cent), Trent (7.1 per cent), Kotak Mahindra Bank (6.1 per cent), Power Grid (3.8 per cent) and Grasim (3 per cent).
The profit-booking was in line with Sensex and Nifty, which closed lower in the current trading session. While Sensex slipped 64 pts to 85641, Nifty closed 27 points lower at 26,175.
Amid the rally in banking stocks, Sensex and Nifty too hit record highs in the current session.
Crorepati stocks: Global brokerage firm CLSA has released a list of 10 Indian wealth creator stocks which have surged up to 19,00,000 per cent or 19,000 times in the last 28 years.
Bank Nifty reached a record high of 59,440 on November 20. However, it has slipped over 1% from record high due to profitbooking.
Stocks including TCS, Tata Power, RVNL, Tata Chemicals, IDBI Bank, Hudco, Lemon Tree, HG Infra, Natco Pharma and more will be in the spotlight on Monday, November 24.
The Centre aims to complete IDBI Bank’s privatisation by FY26, with DIPAM overseeing the planned 61% stake sale. Currently, the government holds 45.48% in the bank, while LIC owns 49.24%.
Axis Bank shares closed at ₹1,275.75, down 0.74% after announcing a ₹5,000 crore fundraising through Series-9 NCDs as part of a ₹35,000 crore plan.
In a regulatory filing, Kotak said the board has cleared the proposal to split one equity share of face value Rs 5 each into five equity shares of face value Re 1 each, fully paid-up.
Rupee Weakness Cyclical, Not A Crisis: Why Investors Should Stay Calm




