Robotic food delivery carts are now a familiar sight on the streets of Chicago. But not everyone has rolled out the welcome wagon for the army of AI-driven meals on wheels.
Indian stock markets climbed on Monday, mirroring a global market rebound. The Nifty and broader indices traded higher, showing improved global sentiment and steady domestic participation. Experts suggest buying on dips, with Nifty support seen at 25,700 and targets around 26,000 to 26,100. The market shows a positive bias, though short-term volatility is expected due to overbought conditions.
Pankaj Pandey, Head Research, finds PSU banks attractive, with Bank of Baroda as his top pick, targeting 340. He anticipates a stronger second half of the financial year and sees potential for M&A and policy support. Pandey also remains constructive on Kotak Mahindra Bank due to improving growth visibility and easing IDBI Bank acquisition concerns.
IDBI Bank shares fell amid updates on its strategic disinvestment, with Fairfax Financial and Emirates NBD emerging as bidders. The government and LIC plan to sell a combined 60.7% stake in the lender as part of the privatisation programme.
Kalyan Jewellers India's shares surged 10% to 417.75 after reporting a 90.36% jump in Q3 net profit to 416.29 crore. This strong performance triggered bullish brokerage calls, with JM Financial setting a 750 price target, citing robust same-store sales growth and positive management outlook.
Power Finance Corporation's board has approved an in-principle merger with REC, advancing a Union Budget proposal to restructure the two public sector NBFCs. This move aims to achieve scale, improve efficiency, and enhance credit flow to India's power and infrastructure sectors. Both companies have delivered significant multibagger returns over the past three years.
