Citi maintains a Neutral rating on Federal Bank with a target price of ₹360, following the bank's clarification that no material event requires disclosure. According to reports from Essential Business Intelligence, Federal Bank and Jana have stated they evaluate various opportunities in ordinary course business, with Jana potentially accreting 14% to FB's advances and 11% to deposits through meaningful funding cost arbitrage. The granular, high-yielding PSL compliant secured franchise complements Federal Bank's geographic reach into underpenetrated markets, though the stock reacted negatively as markets perceive risks in any such transaction.
MS maintains an Underweight rating on Cyient with a target price of ₹820, emphasizing that execution remains key to medium-term aspirations. As reported by Essential Business Intelligence, Cyient has laid out plans for increasing annuity-based revenue, leading to higher predictability in the business. The brokerage likes the changes being taken to transform the business, though benefits could be more medium-term. Jefferies maintains a Buy rating on GMR Airports with a target price of ₹135, following AERA's approval of GMR Hyd Airport's FY27-31 tariff order. The aero tariffs of ₹540-630 through FY29 are broadly in line with estimates and flat/higher versus FY25-26 levels.
ICICI Securities maintains a Hold rating on GMR Airport with a target price of ₹99 amid new tariff developments. The company has received a new tariff order for its Hyderabad airport, which contributes 27% to its total airport traffic. The new tariff order provides clarity on aero tariffs for the next five years (FY27-31), approving a yield per passenger of ₹426 (marginally lower than the prior control period). As reported by The Hindu BusinessLine, the order has also allowed differential aero tariff for the same period, with aero charges per passenger in FY27E estimated to remain similar to FY26 levels. The flat tariff is lower than initial expectations of a hike in the new control period.
MCX Gold October futures show support levels at ₹1,62,271, ₹1,61,643 and ₹1,59,610, with analysts expecting resistance at ₹1,64,303, ₹1,64,931 and ₹1,66,964. In silver markets, Kotak estimates support for Spot Silver at $67.86, followed by $67.26 and further downside of $65.32, with resistance seen at $69.8, $70.4 and $72.34. On MCX, silver is likely to face support at ₹2,43,414, ₹2,42,049 and ₹2,37,630, with resistance placed at ₹2,47,834, ₹2,49,199 and ₹2,53,618. The precious metals outlook remains bullish amid current market conditions.
The credit card sector shows monthly industry spends growth decelerating from 22.5% YoY (Mar-25) to 7.4% YoY (Jul-26). According to Essential Business Intelligence, SBI Card and HDFC gained most in monthly spends market share while ICICI and IndusInd ceded the most. July 2026 card growth in industry CIF of 10% YoY grew faster than spends growth of 7%, with card usage declining -2.4% YoY for the past 10 months. Transactions growth remains strong, outstripping spends growth and confirming a shift to smaller, more frequent swipes.
