Sector Watch: Automobiles   The strength in domestic medium and heavy commercial vehicle (MHCV) volumes continues to surprise positively. February 2018 volumes grew 22% YoY to 37K units (base of +5% YoY in Feb-17). YTD growth for the industry stands at 12% YoY. We are increasing our industry forecasts and now forecast FY18 growth at 11% (vs. +6% earlier). Our FY19/20 forecast is at +13%/+8%.   (Source: Deutsche Bank) Crypto bubble bursts, but blockchain will survive even if bitcoin doesn't We’re now awash in “crypto” hype—cryptocurrencies like bitcoin and fundraising efforts like initial coin offerings. For every venture capitalist or technical expert, there’s a half-dozen hype men and fly-by-night startups making the entire space look like a 21st-century version of the Amsterdam tulip mania. READ MORE Market Check   S&P BSE Sensex 33,595.68 0.87%   Nifty 50 10,324.55 0.96%   S&P BSE 200 4,490.59 0.65%   Nifty 500 9,047.15 0.68%   S&P BSE Mid-Cap 15,996.62 0.06%   S&P BSE Small-Cap 17,350.97 0.26% BSE Smallcap: Jaiprakash Power Ventures, PG Electroplast among gainers, Andhra Bank top loser Reliance Securities on Federal Bank The Bank is expected to deliver further improvement in operational performance led by improving loan book growth and improving assets liability mix. Advances grew by 5.3% QoQ to Rs850bn in 3QFY18, as SME, Wholesale and Retail (including Agri) book grew by 13.3%, 4.4% and 6.85% QoQrespectively. We expect the Bank’s earnings to witness 33% CAGR through FY17-20E and reiterate our BUY recommendation on the stock with an Target Price of Rs150 based on 2.3x FY19E Adjusted book value. Here are top 10 stocks with highest average dividend yield for past 5 years India Inc pays the highest dividend in the last quarter of a financial year. With less than three weeks for this fiscal year to end, a slew of companies are expected to dole out dividends to investors. READ MORE