Indian Govt. To Infuse $12 Billion to Fix Banks' Bad Loan Situation
The Indian government has come to the rescue of the nation’s banking sector. By pumping 830 billion Indian rupees (around $12 billion) into state-run banks by March, Prime Minister Narendra Modi’s administration intends to help a sector bludgeoned by bad loans. Following a recent parliament-approved additional capital infusion of 410 billion rupees, India’s state-run banks are set to receive a total of 1.06 trillion rupees this fiscal year.
India’s banks are saddled with more than $210 billion of stressed debt, causing them to have the world’s worst bad loan ratio after Italy, and posing challenges to their lending capacity.
Momentum Indicator for INDY turns positive, indicating new upward trend
INDY saw its Momentum Indicator move above the 0 level on May 26, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 93 similar instances where the indicator turned positive. In of the 93 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for INDY just turned positive on June 01, 2023. Looking at past instances where INDY's MACD turned positive, the stock continued to rise in of 45 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where INDY advanced for three days, in of 334 cases, the price rose further within the following month. The odds of a continued upward trend are .
INDY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 289 cases where INDY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for INDY moved out of overbought territory on May 11, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where INDY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
Industry description
General Information
Category PacificAsiaexJapanStk
INDY and
Correlation & Price change
A.I.dvisor indicates that over the last year, INDY has been closely correlated with INDA. These tickers have moved in lockstep 94% of the time. This A.I.-generated data suggests there is a high statistical probability that if INDY jumps, then INDA could also see price increases.
| Ticker / NAME | Correlation To INDY | 1D Price Change % | ||
|---|---|---|---|---|
| INDY | 100% | +0.91% | ||
| INDA - INDY | 94% Closely correlated | +1.02% | ||
| EPI - INDY | 90% Closely correlated | +0.91% | ||
| IIF - INDY | 84% Closely correlated | +0.89% | ||
| SMIN - INDY | 80% Closely correlated | +1.46% | ||
| DGIN - INDY | 80% Closely correlated | +1.41% | ||
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