Yep I second the holiday season point, wine is supposed to be a celebratory drink, hence the boost in income during the December quarter.

Hi

On Point 4, dividend , why is it hard to understand what they have not paid out full Div. Firstly Div paid was Rs 15 highest ever. Yet it was not 100% , because as explained they have made a huge provision for the SEBI fees, they have to plan for future growth which means significant TEch and hardware expenditure to introduce new products and ensure scal. so its fine that the firm keeps the profits instead of payout. The Reserves are always needed for various markets guarantee funds and growth will keep increasing in Derivative taking off .
I dont think brikers will just come back because charges are higher now. Yes some impact will be there but the major growth was because of huge outreach process and tech integration that MD has done vist visits to over 1700 markets participants. thats huge sell job and once people get used to an index for trading they dont give u for few hundred rupees

RSI, Stochastics along with moving averages.

But through my backtesting experience ( tested multiple strategies for the last 5 year period ), my conclusion is that if you want o use momentum as a strategy for investing, it doesnt make a lot of difference what indicators you use. Its optimal position sizing, robust execution and most importantly ruthless discipline is what will make your strategy triumph.

I agree with management guidance of 13000 Cr Profit after 5 yrs. I think this is conversative forcast in my assesement Profit can be 20-25% higher than what management suggested if they are able to control or manage Cost to income ratio. I think last 5 years dedicated to restructuring the bank and next 5 yrs will be focused on optimising and improve efficiency.

I belive there is not major macro issue after 5 yrs conservatively profit will be 13-K14K Crs and optimistcally it will be in the range of 17-20 K Crs

Note: I have done my calculation based on valruis bank’s historical(HDFC, Kotak, Indusind) performance. I am not sebi registered advisor and my views can be biased.