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State Bank of India (SBI), ICICI Bank, Yes Bank, as its sees multiple challenges ahead for the financial sector companies. However it upgrades Bajaj Finance and reiterated buy on HDFC Bank.

net profit at Rs 227 crore for the fiscal ended March 2023. The company had recorded a net profit of Rs 204 crore in the previous fiscal. According to the company's financial data sourced by Tofler, operating revenue increased 26% to Rs 745 crore, with 64% of the revenue coming from outside India.

(This Feb. 21 story has been corrected to fix the gender of the analyst in paragraph 2)

Investing.com-- Most Asian stocks rose on Friday and were set for a positive week as optimism over artificial intelligence drove stellar gains in the technology sector, while Chinese stocks extended a rebound into a second week.

Nvidia added $277 billion in stock market value on Thursday, Wall Street's largest one-day gain in history after the heavyweight chipmaker's quarterly report beat expectations and reignited a rally fueled by optimism about artificial intelligence. The company's stock soared 16.4% to close at $785.38, a record-high close, lifting its market capitalization to $1.96 trillion after its January-quarter report late on Wednesday showed demand for its specialized chips used in AI computing continued to outpace analysts' already-high expectations.

stocks rose on Friday and put global markets on course for a week of heady gains as AI darling Nvidia's stunning results sparked a wave of record highs from Asia to Europe and the U.S., while the yen nursed losses on a range of currencies. Nvidia surged 15%, adding a record $250 billion in market value on Thursday. The Santa Clara, California-based company's results supercharged a global AI-led rally in technology stocks, propelling the S&P 500, the Dow Jones Industrials, Europe's STOXX 600 and Japan's Nikkei share average to record highs.

Sensex climbed 535.15 points, or 0.74%, to close at 73,158.24, while the Nifty 50 settled at 22,217.45, up by 162.40 points, or 0.74%. “Strong Q4 results and a positive outlook from chipmaker Nvidia led to a revival in global sentiments. Further, HSBC Flash India PMI data for the month of February pointed towards India’s economic activity – both manufacturing and services being at a 7-month high which helped Indian markets to make a sharp recovery.

Also Read: Nvidia hits 15% upper circuit as AI mania sparks tech rally on Wall Street, market value nears $2 trillion Nvidia surpassed high expectations, according to Morgan Stanley analyst Joseph Moore. “We had never seen $2 billion of upside to quarterly revenue guidance until Nvidia did it a few quarters ago, but it has become routine during the AI surge," he wrote. “Strength of AI demand continues to be remarkable." Nvidia reported fourth-quarter revenue of $22.10 billion, up from $6.05 billion, and beating estimates of $20.62 billion.

Buy or sell stocks for today: On account of sharp selling in small and mid-cap stocks, the Indian stock market opened lower on Thursday. However, bulls came back strongly in the last session and most of the Indian sectors witnessed sharp buying, which helped Dalal Street recuperate its losses and end higher.

Investing.com-- Shares of aerospace firm Intuitive Machines Inc (NASDAQ:LUNR) rose sharply in after-hours trading on Thursday after the firm’s “Odysseus” lunar lander successfully touched down on the moon. 

Speculative traders intent on driving down the price of shares of B. Riley Financial Inc. have attempted to undermine the company’s credibility through a smear campaign, industry sources say, that includes spreading lies about individual employees and questioning the firm’s financial health.

Reserve Bank of India is pushing for the wider adoption of an open-source credit disbursal platform similar to the Unified Payments Interface for digital payments, to make it easier for farmers and owners of small businesses to access credit. While disbursal of consumer loans through a digital interface has become common, farmers and people who run small businesses still need to queue up at their local bank branches and the land records department for days to access agriculture loans and take Kisan credit cards.

Investing.com-- The S&P 500 closed at record highs Thursday, after Nvidia's blowout earning reinforced investor optimism in artificial-intelligence boom, ushering in a sea of green across tech stocks.  

Japan’s benchmark Nikkei 225 index has surged past the record it set in 1989 before its financial bubble burst, ushering in an era of faltering growth

The Dubai-based budget carrier FlyDubai has seen record earnings of $572 million in 2023, boosted by carrying the most passengers ever across its network

Nvidia's stock price surged after delivering another blowout quarter, setting off a rally in other technology companies that carried Wall Street to another record high

Sales of previously occupied U.S. homes rose in January as homebuyers seized upon easing mortgage rates and a modest pickup in properties on the market

A bipartisan group of Oregon lawmakers are working to boost funding for jails to provide medication used to treat opioid addiction

Wealth technology consultancy Ezra Group has hired the co-founder and former CEO of Nitrogen to further establish its position as a leading firm in the wealthtech space.

By Herbert Lash and Marc Jones

white-labelled smartwatches and wireless earbuds have flooded the market with cheap copies of popular models, hurting established Indian players such as Boat. In a recent report, International Data Corporation said these cheap alternative offerings of popular models, imported from China, are diluting the first-time user experience, affecting the business of the incumbents in the market. These products, which closely resemble the design of the Apple Watch and other premium smartwatches, are also pulling down the average selling price (ASP) in the industry to record lows, making it difficult for the entrenched brands to compete or «premiumise», industry executives and experts said. The ASP in the wearable segment fell about 39% to $26.10 in 2023 from an already low $42.50 the previous year, se per IDC. «There are way too many players simply bringing products from China and selling it here. They don't have any control over the software, where the data is going, and that is just dangerous for the consumer,» said Sameeer Mehta, chief executive at Imagine Marketing which owns Boat. «These are all trader brands who have no control over the product but want to make hay in a booming market.»