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Motilal Oswal initiates coverage on Bajaj Housing Finance with a neutral rating. The brokerage anticipates moderate growth and subdued return ratios. Valuations appear stretched, trading significantly above the IPO price. AUM and profit are expected to rise, but at a slower pace. NIMs may face pressure. The financier has a granular loan book with good asset quality.
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News and Media
Gold prices declined on MCX due to profit booking before US inflation data. October gold futures traded lower, while silver futures also showed weakness. US PPI data had previously cooled off, supporting prices. Market awaits CPI data for further direction. Geopolitical tensions and central bank buying support gold and silver. Experts suggest ranges for trading gold and silver on MCX.
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News and Media
Reliance Communications shares fell after receiving a show-cause notice from the Central Bank of India proposing to classify Rs 400 crore of loan accounts as fraud and report to the RBI. The company is under ongoing insolvency proceedings.
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News and Media
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