Auto Sector

The company recorded a 54% year-over-year (YoY) increase in revenues to Rs 935 crore in the second quarter of fiscal year 2023–24 (Q2FY24), which ended in September.

As of the end of the September quarter, SoftBank held 2.17% of the company's shares.

In a week of geopolitical tensions, it was gold that was the star asset class. Bond yields, rupee and oil look very vulnerable.

For the week, the CME Fedwatch remained static; although it now hints at no rate cuts even by the end of 2024.

FPIs selling in secondary markets continued this week, in the midst of rising global uncertainty on the geopolitical front.

The RBI MPC minutes continue to be cautious about inflation spikes, and the pause in rates could be much longer.

Markets came under pressure, and the coming week is likely to be driven largely by global oil prices, US bond yields and USD.

Nifty closed positive this week despite pressure from banks and IT; as oil, autos and FMCG stole the limelight.

According to a regulatory filing by the bank, the fractional entitlements were aggregated, and the total of those fractions was rounded up to the next whole number and given straight to the trust known as "HDFC Bank Unclaimed factional amount 2023," which is run by Axis Trustee Services Ltd.

Recommendation: Reduce; Target Price: Rs 6300