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Investing.com — European stock markets edged higher Tuesday, with investors awaiting the release of the latest eurozone inflation data as they start unwinding before the Christmas holidays. 

₹69.20 apiece. This follows a substantial 20% surge in the previous trading session. SpiceJet's stock has been garnering attention in recent weeks due to various positive developments.

SBI, Bank of Baroda, Indian Bank, Union Bank, Canara Bank, and PNB. «A reflection on PSBs valuation history may cause trading multiples to look constrained, however the quality of earnings, growth outlook and broader re-rating in PSU entities will nevertheless enable steady performance of the sector,» Motilal analysts including Nitin Aggarwal said. Stating that PSBs are likely to report a 10% CAGR in deposits over FY23-26, Motilal said most PSU banks are well positioned in terms of liquidity, with their LCR well above the regulatory requirement of 100% (135-160%), indicating their resiliency and the competitive advantage they have over their private peers, especially in the current rate environment. The analysts noted that overall, PSBs have been able to maintain better margins as a significant proportion of their loans are linked to MCLR (6-12 months’ tenure), which has led to lagged re-pricing of advances portfolio. Stock ideas Motilal's top picks among the PSU bank basket are SBI, BoB, and Canara Bank. For SBI, it has raised the target price from Rs 700 to Rs 800, BoB from Rs 240 to Rs 280, Indian Bank from Rs 460 to Rs 525, Union Bank from Rs 130 to Rs 150, and Canara Bank from Rs 440 to Rs 550. While the brokerage has buy ratings on the above 5 stocks, it has a neutral rating on PNB but the price target has been increased from Rs 75 to Rs 90. In the last 5 months, the Nifty PSU Bank index is up over 40% with Central Bank, IOB, PNB, and Union Bank rallying between 7-90%. (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

delayed its public listing last year due to choppy market conditions, omnichannel retailer FirstCry is finally looking to file its draft IPO papers in the next few days, people in the know said. The company is aiming to raise $500-600 million at a $4-5 billion valuation, these people said.

(Reuters) — The Bank of Japan maintained ultra-loose monetary settings on Tuesday in a widely expected move, underscoring policymakers' preference to await more clues on whether wages will rise enough to keep inflation durably around its 2% target.

Investing.com-- Gold prices fell slightly on Tuesday after several Federal Reserve officials downplayed expectations that a dovish pivot by the central bank was imminent, which helped stem recent losses in the dollar.

The development triggered a strong investor interest in the stock with nearly 82 lakh shares changing hands on the NSE, while the stock witnessed a 5.20 times spurt in volumes on the BSE. The stock has been a market laggard with returns of just over 2% in the last 12 months while stock's returns in 2023 stand at a mere 7%. In contrast, the Nifty has given over 16% returns. Devyani International's Dubai subsidiary Devyani International DMCC on Monday announced its entry into the Thailand market by signing a share purchase agreement to acquire a controlling interest in Restaurants Development Co, Thailand.

sugarcane to produce ethanol could increase the closing stocks of sugar from the multi-year low of the previous season, leading to some moderation in the soaring sugar prices, say experts and industry stakeholders. Industry observers say as the government has a focus on the ethanol blending programme, more relaxation is likely if sugar surplus is in line with the estimates after the crushing season ends in the first quarter of FY25. Khushbu Lakhotia, Director, India Ratings & Research, says: “While the government has now allowed ethanol production through both cane juice and B- heavy (a category based on sucrose content) molasses, the sugar diversion has been capped at 1.7 million tonnes (MT), which is around 60% lower than the last season and similar to the diversion without cane juice under the order passed on December 7. Even under the revised order, India’s sugar production could increase by 2-2.5 MT to around 31 MT.

Indian economy is likely to log 6.3% growth in FY24 and FY25 on the back of macroeconomic and financial stability, International Monetary Fund’s Executive Board said Tuesday. “India’s economy showed robust growth over the past year. Headline inflation has, on average, moderated although it remains volatile.

loans increasing from 15% to 25% in the past decade. The dynamic regulatory environment poses manageable challenges, and new product offerings are expected to shape the business mix. While the RBI's directives on unsecured consumer credit may impact capital, the sector remains resilient, with an anticipated 14% growth in the next two years. NBFC AUM is projected to grow by 16-18% in FY24 and 14-17% in FY25 and cross the INR32t mark by Mar’25. Unsecured loans are expected to constitute 12-14% of the NBFC AUM, with a growth rate ranging from 14-17%, reflecting a slight moderation due to recent regulatory interventions. The performance of NBFCs remains robust, characterized by a higher PCR for stage 2 and stage 3, low leverage, and a strategic readiness for broad-based growth. The NBFC sector is witnessing a notable diversification, with 55% of companies exploring new product segments. Co-lending partnerships are expected to grow, and NBFCs are actively seeking funding diversification through bonds and securitization. The retail consumption book is a significant contributor and retail demand in secured and unsecured segments has strengthened, with an increased market share. Asset quality appears robust and is anticipated to remain fundamentally strong as signs of stress are limited and there are declining trends in Stage 2 loans. Profitability is expected to remain steady, backed by stable credit costs and operating expense ratios, indicating a positive outlook for the financial performance of NBFCs. Spandana Sphoorty: LTP Rs 1052| Target Rs 1200 The new management has successfully navigated various disruptions and consequent asset quality stress. We estimate Spandana to deliver FY26 RoA/RoE of 4.4%/17%, aided

Indian Bank with a target price of Rs 525. The current market price of Indian Bank is Rs 448.15. Indian Bank, incorporated in the year 1907, is a banking company (having a market cap of Rs 55621.40 Crore).

Federal Reserve could move. While a few Fed officials have pushed back against surging market expectations of rate cuts, markets are still pricing in about a 69% chance of a Fed rate cut in March, according to the CME FedWatch tool, Reuters reported.

Iran’s state TV says nearly 70% of the nation’s gas pumps are out of service after possible sabotage — a reference to cyberattacks

U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion

Venus Pipes & Tubes Ltd., incorporated in the year 2015, is a Small Cap company (having a market cap of Rs 2773.97 Crore) operating in General sector. Venus Pipes & Tubes Ltd.

The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants

Japan’s Prime Minister Fumio Kishida has pledged to lead efforts to simultaneously achieve decarbonization, economic growth and energy security in Asia

The European Union is imposing sanctions on Russia over its war against Ukraine, targeting the lucrative diamonds industry as well as more than 140 officials, companies and organizations

NBCC (India) Ltd is targeting to reach Rs 25,000 crore revenue in the next five years from Rs 11,000 crore in the current financial year, KP Mahadevaswamy, CMD, NBCC told ET. The company also aims to increase annual profit to Rs 5,000 crore in five years from Rs 400 crore currently by focusing on real estate development and redeveloping land that are not utilised by other PSUs. “Covid impacted the overall performance of NBCC but we are back on track and have a healthy pipeline of projects. We have an order book of Rs 55,000 crore and we plan to take orders worth Rs 15,000-20,000 crore every year.

Investing.com-- Most Asian stocks kept to a tight range on Tuesday as a recent post-Federal Reserve rally appeared to be cooling, while Japanese markets shot up after the Bank of Japan maintained its ultra-dovish course.

H-1B visas to renew their visas without having to leave the nation, Hindustan Times reported. The pilot has passed the last regulatory hurdle before publication after receiving the OIRA green light. It will begin in January with 20,000 foreign workers as its initial target.