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<ul><li>At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a subdued note on Thursday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.12%, indicating a green start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-retreat-from-record-highs-as-stimulus-deadlock-continues/articleshow/79653087.cms">US stocks reversed to end lower</a> as a deadlock in stimulus negotiations continued. The Dow Jones Industrial Average closed 0.35% lower, and the S&amp;P 500 was down 29 points. These are the stocks to watch out for during the trading session today: IRCTC The government is planning to sell up to 20% stake in Indian Railway Catering and Tourism Corp (IRCTC) through an Offer for Sale (OFS) which opens for subscription on Thursday. The floor price for the offer has been set at ₹1,367. The share price of IRCTC closed 2% lower on Wednesday. Mahindra &amp; Mahindra The company informed exchanges that its operations in the automotive sector would be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs). The company said this would result in a reduction in production and sales volume in the last quarter of FY 2020-2021. The share price of Mahindra &amp; Mahindra closed flat on Wednesday. TCS The ₹16,000-crore share buy-back programme of India's largest IT services firm Tata Consultancy Services (TCS) will commence on December 18 and close on January 1. Last month, TCS shareholders had approved a proposal to buy-back up to 5.33 crore equity shares of the company at ₹3,000 per scrip for an aggregate amount not exceeding ₹16,000 crore. The share price of TCS closed 0.53% lower on Wednesday. Maruti Suzuki India India's largest carmaker Maruti Suzuki said it would increase prices of its vehicles from January to offset the adverse impact of rising input costs. The share price of Maruti Suzuki India closed 0.70% lower on Wednesday. Pfizer India Canada's health regulator has approved Pfizer's COVID-19 vaccine, days ahead of possible approval in the US. Canada is set to receive up to 249,000 doses this month and 4 million doses by March. The share price of Pfizer India closed 0.29% lower on Wednesday. ICICI Securities The offer for sale for non-retail investors gets a demand of 4.4 times the shares of the offer. Portion for retail investors will be open today for auction. The share price of ICICI Securities closed 4% higher on Wednesday. L&amp;T Tech L&amp;T Technology Services bags a multi-year order worth over $100 million from a global oil &amp; gas company. Under this five-year deal, the company will be the primary engineering partner to support two of their integrated refining and chemicals manufacturing facilities in the USA. The share price of L&amp;T Tech closed 2% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, M&M, TCS, Maruti Suzuki, Pfizer India, ICICI Securities, and others

<ul><li>The 30-share BSE index, Sensex was trading 285.62 points higher at 45,894.13. And, the NSE Nifty rose 78.25 points to 13,471.20.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indexes touched a fresh lifetime peak in early trade on Wednesday tracking gains in index majors Reliance Industries, TCS and Infosys amid persistent foreign fund inflow and positive cues from global markets. The 30-share BSE index, Sensex was trading 285.62 points higher at 45,894.13. And, the NSE Nifty rose 78.25 points to 13,471.20. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr></tbody></table>*as of December 9, 10:00 am These are the top stocks in news today. ICICI Securities trades 3% higher The shares of ICICI Securities gained over 3% as ICICI Bank gears up to sell up to 2.21% stake in brokerage arm ICICI Securities through an offer for sale. The floor price for the sale that begins today has been fixed at ₹440 apiece, and it may fetch the bank at least ₹313 crore. The shares of ICICI Bank were also trading in green. JSW Steel opens 2% higher The shares of JSW Steel opened 2% higher after it reported 3% growth in its crude steel production to 13.32 lakh tonnes (LT) for November 2020. The company’s output stood at 12.90 LT in the corresponding month last year, the steelmaker said in a statement. ITI rallies 4% The shares of ITI rallied over 4% after a senior official of the IT major Tech Mahindra said the company along with the state-run telecom manufacturing firm ITI should be able to provide a 5G technology ecosystem in India including 5G-enabled devices, core system etc. Yes Bank soars nearly 10% The shares of Yes Bank soared nearly 10% after Brickwork Ratings upgraded the rating of Tier I Subordinated Perpetual Bonds (Basel II) of Yes Bank to ‘stable’. TCS trades over a percent higher The shares of TCS were trading nearly a percent higher after the company launched a new Blockchain-based Digital Bank Guarantee Platform in Israel powered by the Quartz Blockchain solution. Israel’s largest bank, Bank Hapoalim, has signed up as the anchor customer for the platform. Pfizer India shares soar 2% The shares of Pfizer India soared nearly 2% after the US regulator USFDA released its first scientific evaluation of Pfizer’s Covid-19 vaccine and confirmed that Pfizer’s COVID-19 vaccine has a ‘favourable safety profile.’ SEE ALSO: <a href="https://www.businessinsider.in/india/news/farmers-protest-talks-between-amit-shah-and-farmer-leaders-fail-sixth-round-of-talks-uncertain/articleshow/79635770.cms" data-type="tilCustomLink">Farmers' protest: Talks between Amit Shah and farmer leaders fail — sixth round of talks uncertain</a> <a href="https://www.businessinsider.in/finance/banks/news/supreme-court-told-that-blanket-waiver-of-moratorium-loans-would-take-6-lakh-crore-and-wipe-out-the-net-worth-of-banks/articleshow/79636002.cms" data-type="tilCustomLink">Supreme Court told that blanket waiver of moratorium loans would take ₹6 lakh crore and wipe out the net worth of banks</a>

Top stock movers — TCS, ITC, HCL Tech, Yes Bank, ICICI Securities, ITI, Pfizer India, and others

<ul><li>Even though <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> missed the market rally, analysts still believe that India’s second-largest lender will come out on top by the end of year. </li><li>ICICI Bank’s share price has lost 28% of its value since January but could be back up by as much as 34% as per brokerage firm Edelweiss.</li><li>Analysts believe that ICICI Bank remains the best placed to weather the bad loans storm </li></ul>India’s financial sector may look shrouded in gloom-and-doom, but India’s second-largest private lender, ICICI Bank, remains the world’s favourite banking stock. <a href="https://www.bloombergquint.com/business/bank-stock-most-favored-by-world-s-analysts-has-lagged-behind">Bloomberg</a> data indicates that ICICI Bank has 56 ‘buy’ recommendations with a consensus rating of 4.95 out of 5, ranking it the highest among the top 50 global banks. Even though it missed the market rebound rally, analysts are still positive that things will turn around for the $32 billion lender despite it having a higher percentage of loans under moratorium in comparison to peers. Its share price has lost 28% of its value since January. Yet, analysts expect the stock to revive in the coming year. Edelweiss is most optimistic with a target price of ₹525 — a 34% jump from yesterday’s closing price of ₹389.75. <div type="image" title="icici (1)" msid="77776402" hostid="261" caption="&amp;lt;p&amp;gt;ICICI Bank&amp;#39;s share price since January&amp;lt;/p&amp;gt;"></div> Today, ICICI Bank’s share value rallied by nearly 1% as markets opened after its board of directors approved the sale of over 6.4 million equity shares in ICICI Securities at a face value of ₹5 each. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage on ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% growth from closing price* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 525 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang Institutional </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 520 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YES Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Direct </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 480 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 475 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 425 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit BNP Paribas </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 415 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5% </td></tr></tbody></table>*Growth calculated using closing price as of Aug 26 While the moratorium risks remain high, the bank has created ample buffers against bad loans and profit growth despite adding provisions.ICICI bank looks best placed to weather this storm as the moratorium on loan repayments expires on August 31. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top private sector banks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of loans under moratorium </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table>Source: Jefferies <div type="Article" hostid="261" msid="77758597" title="Loan moratorium still ends on Aug 31 while Supreme Court gives the government another week to clarify if accrued interest should be waived" mstype="2" mssubtype="0"></div> Bad loans or not, ICICI Bank has it covered Being a large private sector bank, JM Financial forecasts that ICICI Bank is likely to see limited impact from the moratorium even with 17.5% of loans opting to delay their interest payments. Even though margins dropped and there is a slowdown in credit demand, ICICI Bank still managed to post 36% yearly growth in profit at the end of the first quarter. Supported by core earnings, HDFC Securities estimates that ICICI Bank’s profit is likely to register a sharp 52% growth by the end of the year despite the volatility of 2020. <div type="Article" hostid="261" msid="77167522" title="ICICI Bank's gross bad loans drop to the lowest in 5 years" mstype="2" mssubtype="0"></div> The bank was lauded for ‘prudently’ using its gains from the treasury and stake sale in insurance arms by Motilal Oswal Securities. At the end of June, ICICI Bank’s COVID-19 related buffers amounted to ₹82.8 billion — covering 1.3% of loans. Merrill Lynch picks up ₹341 crore worth of ICICI Bank shares Betting on the bank's growth, Merrill Lynch Markets Singapore picked shares worth ₹341 crore from Societe Generale. Data with the Bombay Stock Exchange (BSE) shows that the block deal was more 90 lakh shares were sold at ₹378.6 apiece. This is the second time that Merrill Lynch has bought into ICICI Bank within the last six months. Earlier this month, the bank confirmed that it will be raising funds through a qualified institutional placement (QIP) of its equity shares at a floor price of ₹351.36 per share. It has since closed its QIP and raised ₹15,000 crore. <div type="Article" hostid="261" msid="77140214" title="Just like SBI, ICICI Bank has created a cash cushion in case bad loans rise" mstype="2" mssubtype="0"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 840 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Lombard </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 2250 crore </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms">China fires two missiles into the South China Sea and Asian markets feel the blow</a> <a href="https://www.businessinsider.in/defense/news/ladakh-will-be-the-front-to-hold-for-india-and-china-for-at-least-a-year-if-not-longer-as-per-experts/articleshow/77779668.cms">Ladakh will be the 'front to hold' for India and China for at least a year if not longer as per experts</a> <a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms">UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a>

ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders

<ul><li><keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>’s share price is up 6% as the stock market tips its hat to the bank’s highest-ever net profit of over ₹4,200 crore at the end of September. </li><li>The bank announced its second-quarter results on Saturday with an optimistic note of the Indian economy getting back on track. </li><li>Mortgage disbursements beat the pre-COVID level to hit an all-time high in September. </li></ul> The markets are cheering for ICICI Bank with its share price up 6% after it reported its highest-ever quarterly net profit of ₹4,250 billion on Saturday, October 31. That’s 6.5 times higher than what the bank’s profit was a year ago in the same quarter. <div type="image" title="ICICI Bank share price since July" msid="78992367" hostid="261" caption="&amp;lt;p&amp;gt;ICICI Bank share price since July&amp;lt;/p&amp;gt;"></div> “We have been focused on risk-calibrated granular growth that has been there for the past couple of years has helped us grow the underlying profits, that’s the reason for the after tax number for the quarter,” said ICICI Bank CFO Rakesh Jha during the second-quarter earnings call. ICICI Bank is one of the few banks in the Indian market that is optimistic about how the future will play out. While its peers laid in cautious commentary and guarded predictions of the future, ICICI Bank was clear in its stance that the Indian economy is getting back on its feet during the second-quarter earnings call. However, ICICI Bank’s numbers weren’t solely based on the turnaround of the Indian economy — the sale of its stake in ICICI Securities worth ₹305 crore helped. According to the bank, it has seen credit card spends have returned to 85% of pre-COVID levels. Mortgage disbursements, on the other hand, beat pre-COVID levels to reach an all-time high in September. Auto loan disbursements and disbursements across ICICI Bank’s rural portfolio also exceeded pre-COVID levels at the end of September. The management believes that pandemics are also short-term, so even COVID-19 will eventually blow over. Although there’s no vaccine on the market yet, people are getting used to going back to work with the relevant precautions in place, which means more business activity —- which, in turn, is good news for the bank. Even though it hasn’t had to use any of its COVID-related provisions yet, ICICI Bank is still keeping ₹8,772 crore in its coffers to cushion its balance sheet.

ICICI Bank surges 6% after it posts six-fold jump in net profit at over ₹4,200 crore

<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

<ul><li>At 7:40 am, the SGX Nifty was up 0.33%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a higher note on Wednesday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.33%, indicating a green start for Nifty50. The<a href="https://www.businessinsider.in/stock-market/news/sp-500-dow-close-at-record-highs-amid-pfizer-vaccine-rollout-and-stimulus-progress/articleshow/79634398.cms"> US stocks </a>closed at record highs as Congress inched closer to a stimulus compromise and COVID-19 vaccinations began in the UK. The Dow Jones Industrial Average closed 0.35% higher, and the S&amp;P 500 was up 0.28%. These are the stocks to watch out for during the trading session today: ICICI Bank and ICICI Securities ICICI Bank is selling up to 2.21% stake in brokerage arm ICICI Securities through an offer for sale. The floor price for the sale that begins today has been fixed at ₹440 apiece, and it may fetch the bank at least ₹313 crore. The share price of ICICI Bank closed 0.42% lower on Tuesday, whereas ICICI Securities ended 2% higher. JSW Steel JSW Steel reported a 3% growth in its crude steel production to 13.32 lakh tonnes (LT) for November 2020. The company’s output stood at 12.90 LT in the corresponding month last year, the steelmaker said in a statement. The share price of JSW Steel closed 1% lower on Tuesday. TCS The IT services major TCS has launched a new Blockchain-based Digital Bank Guarantee Platform in Israel powered by the Quartz Blockchain solution. Israel’s largest bank, Bank Hapoalim, has signed up as the anchor customer for the platform. The share price of TCS closed 2% higher on Tuesday. Wipro The IT services giant Wipro will give wage hikes to junior employees with effect from January 1. The Bengaluru-based company has also rolled out promotions for high performers in bands up to B3, effective December 1. The share price of Wipro closed 2% higher on Tuesday. AstraZeneca Pharma India A report published in The Lancet, a medical journal, on December 8 confirmed that the Oxford University and AstraZeneca COVID-19 vaccine is safe and highly effective in preventing coronavirus disease. The share price of AstraZeneca Pharma closed 0.29% lower on Tuesday. Pfizer India The US regulator USFDA has released its first scientific evaluation of Pfizer’s Covid-19 vaccine and confirmed that Pfizer’s COVID-19 vaccine has a ‘favourable safety profile.’ The share price of Pfizer India closed 0.33% lower on Tuesday. Hindustan Aeronautics Limited (HAL) ICRA and CARE Ratings have reaffirmed A1+ rating on the Hindustan Aeronautics Limited’s proposed Commercial paper issue of ₹2500 crore. The share price of HAL closed 0.57% lower on Tuesday. Tata Steel S&amp;P has revised the company outlook to ‘stable’ from ‘negative’ and affirms ‘B+’ rating. The share price of Tata Steel closed 0.33% lower on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/bharat-biotech-applies-for-emergency-use-approval-for-its-covid-19-vaccine-covaxin/articleshow/79617391.cms" data-type="tilCustomLink">Bharat Biotech applies for emergency use approval for its COVID-19 vaccine Covaxin</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-in-india-expert-panel-to-review-pfizer-serum-and-bharat-biotechs-emergency-use-application-tomorrow/articleshow/79617336.cms" data-type="tilCustomLink">COVID-19 vaccine in India: Expert panel to review Pfizer, Serum and Bharat Biotech's emergency use application tomorrow</a>

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ICICI Bank surges 6% after it posts six-fold jump in net profit at over ₹4,200 crore

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