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Brokerage action on One 97 Communications, Info Edge (India) and Westlife Foodworld are likely to impact their stocks today.While Jefferies sees NCPI approval of its third-party app as the last regulatory challenge cleared by the Paytm operator, BofA retains its underperform rating on Info Edge. Meanwhile, Investec has initiated a ‘Buy’ view on Westlife Food. We have collated a list of recommendations from top brokerage firms from ETNow:BofA on Info Edge: Underperform | Target: Rs 4,050BofA has maintained an 'Underperform' rating on the Naukri.com operator but hiked the target price to Rs 4,050 from Rs 3,540, earlier. The US-based brokerage sees slight uptake in Naukri though refrained from calling a turnaround in the company. Meanwhile, it sees strong traction in 99Acres. Next Zomato or PB FinTech among InfoEdge's investee companies may be some time away, it said in a note, arguing that there was limited visibility on which of the investee companies has the potential to lead to value unlocking in the counter.Jefferies on PaytmWith NCPI approving One97 Communications to operate as a third-party app provider, the last remaining regulatory challenge for ensuring a smooth transition of customers and merchants has been done with, says Jefferies in a note. Axis, HDFC, SBI & YES Bank will be the PSP banks and YES Bank will be acting as the merchant acquiring bank for both existing and new UPI merchants.However, clarity is awaited on user/merchant retention and the path to normalisation for the lending business, it said. The brokerage noted an 8-15% hit to payments value/app usage citing the February data points. The business model is moving to a pure payments company. Paytm is likely to dip into >$1 billion cash reserves for merchant/customer retention, the brokerage said.Investec on Westlife Foodworld: Buy | Target: Rs 923Investec has initiated a 'Buy' rating on Westlife Foodorld for a target price of Rs 923 arguing for its sustainable growth and attractive market potential. It sees a material runway for margin expansion while expecting revenue and PAT to grow at a CAGR of 17% and 43% over FY 2024-26. Longer-term store expansion and SSSG (same-store sales growth) opportunities remain attractive, it said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Equity markets rebounded on Thursday and even broader markets saw some recovery from the previous day's sharp losses. The 30-share Sensex climbed 335 points to settle at 73,097 and the broader Nifty gained 148 points to close at 22,146.Stocks that were in focus included names like ITC, which fell 0.82%, Swan Energy, which rose 10%, and Kalyan Jewellers, whose shares dropped nearly 1% on Thursday.Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today.ITCThe stock held its mark despite the weak market sentiment in Wednesday’s session. With the stock opening gap up and losing most of its gain for the day, a strong support lies at 407-410 levels. A strict stop loss should be kept at 405 for all long positions, and we can see higher levels of 445 and 450 coming in over the period of time.Swan EnergyThe stock faced continuous selling pressure in consecutive 8 trading sessions and fell almost 38%. A major support is placed at around 450 levels below which the stock would lose its strength. An immediate resistance is placed near 525 levels as per the daily charts.Kalyan JewellersThe stock touched its important support of 360-365 mark and successfully managed to hold above the same. Overall trend is still positive for the stock and a strict stoploss at 350 should be kept for all longs. Upside we can see 420-430 in the near term.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Mamata Banerjee sustained injuries including a deep gash on her forehead, a cut on the nose, and concussion following a fall at her residence in Kalighat on Thursday evening. The director of the state-run SSKM Hospital told ToI that the injuries appeared to have been caused by "some push from behind."Around 7:30 pm, the Chief Minister of Bengal was admitted to the Woodburn Ward of the hospital. Medical professionals addressed the bleeding and subsequently treated the wound on her forehead with three stitches, while the cut on her nose required only one stitch. Following the recommendations of a multidisciplinary medical team, she underwent various procedures including a CT scan and an MRI. By 9:45 pm, she was discharged and returned home.“We wanted to find out whether the fall was an accident or she suffered any fluctuation in blood pressure,” a health department official told.Mamata Banerjee accident: Conspiracy Theory The narrative surrounding Mamata's fall shifted significantly at approximately 11 pm, as SSKM director Manimoy Bandyopadhyay hinted at a potential external force being responsible for the incident. Rather than attributing it to a simple trip, Bandyopadhyay suggested the possibility of an unknown "push" leading to her injuries. However, he refrained from providing further details regarding the specific cause.“Investigations like ECG and CT scan were done. She was advised admission for observation, but she preferred to go home. She will continue to be under close watch. She will be assessed on Friday,” Bandyopadhyay told ToI. Kajari Banerjee, Mamata's sister-in-law and a Trinamool councillor, added to the conspiracy theory, saying she heard that "Didi fell after a dhakka". The Bengali word can be interpreted variously, including "impact after colliding with something"."I wasn't present but spoke to my wife, who accompanied Didi to SSKM Hospital," Kajari's husband Kartik Banerjee said.Another family member said Mamata "fell face first and hit the sharp edge of a small cabinet".On Thursday evening, the CM attended an event near south Kolkata's Gariahat, not far from her Kalighat home, to unveil the statue of the late Trinamool leader Subrata Mukherjee. Soon after returning home, she fell and injured herself.PM Narendra Modi wrote Mamata a get-well message on X. "I pray for a quick recovery and the best health for Mamata Didi," he posted.Earlier in March 2021, Banerjee suffered a ligament injury in Nandigram while campaigning for the assembly elections. She hit the campaign trail in a wheelchair with a plastered leg.Last June, the Bengal CM suffered another injury in her left knee and hip during an emergency helicopter landing at the Sevoke airbase in North Bengal. She was brought to SSKM Hospital, where doctors found fluid accumulation in her left knee joint and a ligament injury in the left hip joint. The Bengal CM had to restrict her movement for several days after that and went through a rehabilitation regimen. The last time she visited the hospital for that injury was in September 2023.

Mumbai: The Reserve Bank of India (RBI) may have to take a fresh look at its long-standing caps for foreign ownership of government debt as lumpy inflows expected over the next couple of years due to global bond index inclusion alter a critical landscape for the Centre's debt manager.In March 2020, the RBI introduced a new category for foreign investment in central government bonds - the Fully Accessible Category (FAR). Sovereign bonds falling in this category are fully open for investment without restrictions. Meanwhile, in a potential source of ambiguity, the RBI's current cap for foreign investment in central government bonds is 6% of the outstanding stock of securities. This limit was specified in an April 2022 notification.While the FAR category did not attract large foreign flows for three years, overseas players have poured almost $10 billion into the FAR bracket since JP Morgan said in September 2023 that Indian bonds would be included on its emerging market index from June of this year.108507472With Bloomberg also having announced inclusion of Indian bonds in one of its indices starting 2025 and other index managers likely to do so going ahead, clarity on what happens to the 6% limit may be required."Once the FAR securities were introduced, the concept of the limit became redundant. Obviously, it was a decision taken in consultation by the government and the RBI. The idea must be that they can always calibrate the issuance of FAR bonds at a later date if needed. That must be the thought process behind the introduction of FAR securities," said A Prasanna, head of research at ICICI Securities Primary Dealership.Sources aware of the developments said that over the past year, the RBI has had held internal discussions on the matter of the limit, with the central bank likely at some point to clarify a new position.An email sent to the RBI seeking comment on the matter did not receive a response till the time of publication.As on March 13, combined FPI investment in the general category, the long-term category and the FAR category was at Rs 2.5 lakh crore, Clearing Corporation of India data showed. The latest position for the total outstanding stock of central government bonds is Rs 102.65 lakh crore, RBI data showed.Citigroup's CEO recently projected inflows worth $40 billion from index inclusion, while HSBC estimated flows worth $35-45 billion over 15 months. Bank of America's head of India trading predicted flows worth $32-35 billion.In the 11 years since signs of a tighter US monetary policy sparked a 'taper tantrum' of foreign outflows and wreaked havoc on the rupee and the domestic bond market, the RBI has kept a very close eye on overseas investment in government bonds.Over the last couple of years, the RBI has adroitly managed large-scale overseas fund outflows in the wake of aggressive US rate hikes, with the central bank's formidable arsenal of foreign exchange reserves ensuring that the rupee remains relatively unscathed amongst its peer currencies.

Mumbai: Kotak Institutional Equities said most mid-cap and small-cap stocks are still trading at 'full-to-lofty' valuations and well above their fundamental values despite the sharp correction in recent weeks. The brokerage said many low-quality stocks may still have a 'long way to fall'."We are not sure if the correction marks a reversal of the market to fundamentals and numbers from sentiment and narratives," said Kotak's analysts including Sanjeev Prasad in a client note.Till Wednesday, the sharp selloff in mid-cap and small-cap stocks resulted in 50 stocks with market capitalization exceeding ₹500 crore tumbling between 25% and 65% in March so far. Around 130 stocks slumped 20% to 25% in this period. Mid-cap and small-cap stocks, however, rebounded on Thursday in a relief rally.Kotak said the recent correction in broader markets is quite small in the context of the large returns of the past year. "We note that 61% of mid-cap. and 63% of small-cap. stocks have given more than 30% return in the past year even as the bulk of the mid-cap and small-cap stocks have given negative returns in the past one month," said the firm's analysts.The brokerage said valuations of the majority of the mid- and small-cap stocks are 'quite expensive'.Kotak said high return expectations and strong returns in the past three years may have reinforced their direct participation in mid- and small-cap stocks. "We are not sure if there will be any change in the investment behaviour and optimistic view of non-institutional investors as a result of the recent correction and cautionary statements of the regulator," they said.