Highlights of 23rd January Fundamental Weekly Podcast:
- The Nifty-50 Index touched all-time high on Monday and went downhill to close 1.47% down on week to week basis.
- Weak results of Nifty-50 companies in the past week weighed on investor sentiment.
- On the economy front, December CPI inflation came in at 5.7% compared to 5.6% in November.
- Flls continue to be a net cash seller to the tune of Rs.23584 crores, to date in Jan'24.
- PICK OF THE WEEK – Indus INds Bank - TARGET - Rs 1800
- 11B reported 17% YoY earnings growth, led by ~9% YoY operating profits growth and 12% YoY decline in provisions.
- NIM was stable QoQ at 4.3%, loan growth was solid at -20% YoY and asset quality was
broadly unchanged QoQ, though slippages were marginally higher.
- The bank continues to invest in the franchise, leading to elevated cost ratios.
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